Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...

The Marginal Utility of a good is the increase in total utility obtained by consuming one more unit of that good, for given consumption of other goods.

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...