marginal utility

marginal utility
noun Date: 1890 the amount of additional utility provided by an additional unit of an economic good or service

New Collegiate Dictionary. 2001.

Look at other dictionaries:

  • Marginal utility — In economics, the marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that… …   Wikipedia

  • marginal utility — Econ. the extra utility or satisfaction derived by a consumer from the consumption of the last unit of a commodity. [1920 25] * * * In economics, the additional satisfaction or benefit (utility) that a consumer derives from buying an additional… …   Universalium

  • Marginal Utility — The additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important economic concept because economists use it to determine how much of an item a consumer will buy. Positive marginal… …   Investment dictionary

  • marginal utility — noun (economics) the amount that utility increases with an increase of one unit of an economic good or service • Topics: ↑economics, ↑economic science, ↑political economy • Hypernyms: ↑utility * * * noun …   Useful english dictionary

  • marginal utility — noun The additional utility to a consumer from an additional unit of an economic good …   Wiktionary

  • marginal utility — The change in total satisfaction as a result of consuming one additional unit of a specific good or service. Bloomberg Financial Dictionary …   Financial and business terms

  • marginal utility — profit derived from each additional unit produced by a manufacturer (Economics) …   English contemporary dictionary

  • marginal utility — /ˌmɑ:dʒɪn(ə)l ju: tɪlɪti/ noun satisfaction gained from using one more unit of a product …   Marketing dictionary in english

  • Law Of Diminishing Marginal Utility — A law of economics stating that as a person increases consumption of a product while keeping consumption of other products constant there is a decline in the marginal utility that person derives from consuming each additional unit of that product …   Investment dictionary

  • law of diminishing marginal utility — Econ. the law that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed. * * * …   Universalium

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