From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Economists often discuss the marginal utility of goods and services. For instance, your second donut is less satisfying than the first and by the fifth donut the value of one additional donut is slim.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is ...