One of the mysteries of the English language finally explained.
The benefit gained from consuming one additional unit of a product or service.‘the law of marginal utility states that the first x is worth more than the second x (be it dollars, hours of free time, video games, pieces of food, etc.)’
- ‘Only with the use of money is it possible to compare the marginal utility of goods in all alternative employments.’
- ‘There is a diminishing marginal utility of savings to any wealth holder, meaning the more you have, the less you need more.’
- ‘Its marginal utility tops off after about 10 listens.’
- ‘Students can better understand diminishing marginal utility when a student is allowed to eat all of the chocolate cookies they want and stops eating at some point even though the cookies are free.’
- ‘Gold is the monetary metal par excellence because it has constant marginal utility.’
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