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.

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 ...

When businesses are planning how much to produce, they must pay close attention to marginal costs and marginal benefits – the incremental changes in costs and benefits that result from an increase in ...