marginal utility Synonyms
No Synonyms and anytonyms found
marginal utility Meaning
Wordnet
marginal utility (n)
(economics) the amount that utility increases with an increase of one unit of an economic good or service
marginal utility Sentence Examples
- The marginal utility of a good measures the additional satisfaction derived from consuming one more unit of that good.
- As consumers consume more units of a particular good, their marginal utility typically decreases.
- The law of diminishing marginal utility states that the marginal utility of any good or service consumed will eventually diminish.
- Marketers often try to increase marginal utility through product differentiation and other tactics.
- When marginal utility is equal to zero, consumers are indifferent between consuming one more unit of a good or not consuming it.
- Producing an additional unit of a good has a marginal utility cost to the producer.
- Diminishing marginal utility has implications for pricing strategies and the shape of demand curves.
- The marginal utility of leisure time versus the marginal utility of income influences labor supply choices.
- Governments may seek to affect marginal utility through taxation and other policies.
- Consumer surplus is the difference between the total utility from consuming a good and the expenditure required to obtain that utility, which is influenced by marginal utility.
FAQs About the word marginal utility
(economics) the amount that utility increases with an increase of one unit of an economic good or service
No synonyms found.
No antonyms found.
The marginal utility of a good measures the additional satisfaction derived from consuming one more unit of that good.
As consumers consume more units of a particular good, their marginal utility typically decreases.
The law of diminishing marginal utility states that the marginal utility of any good or service consumed will eventually diminish.
Marketers often try to increase marginal utility through product differentiation and other tactics.
