marginal utility
- n (economics) the amount that utility increases with an increase of one unit of an economic good or service
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- How The Marginal Utility Of Money Balances With Value
When I was in grad school at what is now called the Booth School of Business at the University of Chicago, there was a theory, in vogue at the time, about the marginal utility of money. For those of you not familiar with the vocabulary, the margin is the edge, like the edge of a piece of paper that doesn’t have writing on it, and marginal utility is the value or usefulness at the edge.
Aug. 5, 2013 - Forbes