Marginal Utility

Views Updated: Dec 15, 2025

Abbreviation

Pronunciation

/ˈmɑrʤənəl juˈtɪləti/

The theory of marginal utility was applied to production as well as to consumption.
The loss-based marginal utility method and linear approximate programming approach are used to solve the loss constraint model.
Diminishing marginal utility also expresses a " variety is the spice of life ".
Marginal utility means the additional satisfaction that a purchaser derives from buying an additional unit of a commodity or service.
Economists have stated a general rule concerning marginal utility for an individual faced with a given budget constraint and given price.

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