marginal utility

In such cases, the marginal utility of a good or service might actually be increasing.

The marginal utility of a good is derived from its most important use to a person.

"He asked me if I had ever considered the marginal utility of going out with women.

However, this applies to all factors of production and also to marginal utility.

Prices are supposed to measure the "marginal utility" of the commodity.

Coined the term marginal utility and gave shape to the concept.

It was here that he introduced his curve of diminishing marginal utility.

The diminishing marginal utility of income explains why the family would work fewer hours.

In his economic framework, these goods do not have the usual decreasing marginal utility.

This was the first time an economist had put forward a theory of demand derived from marginal utility.

It is further assumed that individuals will eventually experience diminishing marginal utility.

As the rate of commodity acquisition increases, marginal utility decreases.

Rather, its price is determined by its marginal utility.

That turns out to equal the ratio of the marginal utilities:

This has affected the development and reception of theories of marginal utility.

Menger also developed the law of diminishing marginal utility.

In this way he identified the demand curve as the marginal utility curve.

With increasing average consumption in future, the marginal utility of consumption will decline.

This leads to inconsistency as marginal utilities (for example, tastes) change over time in a way that the individual did not expect.

Diminishing marginal utility, the economic principle demonstrated by the lesson

The reason is that under incomplete markets, the relative marginal utilities of agents are not equated.

He believed that prices of goods and services are proportional to marginal utility rather than to labor amounts in free market.

The book was one of the first modern treatises to advance the theory of marginal utility.

Dobb also criticized the motives behind marginal utility theory.

This assumption incorporates the theory of diminishing marginal utility.