The law of marginal utility states that customer satisfaction decreases with each unit purchased. So, the more your customers purchase, the less satisfaction they get from each additional purchase. If ...

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.

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 ...