"Cardinal" utility is the idea of measuring economic value through imaginary units, known as "utils." Marginal utility is the utility gained by consuming an additional unit of a service or good.

The pricing function has organically evolved to take advantage of the marginal utility of money.

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In economics, the law of diminishing marginal utility states that the added benefit of consuming more of a product or service declines as its consumption increases.

That, more or less, is the concept of diminishing marginal utility, a clunky economic term for when consumers feel better about buying something the first time than they do about buying it again.

Marginal utility is an economic theory borne out of a need to explain the "paradox of value." Economists used the theory of marginal utility to explain why diamonds were so expensive and bread wasn't.

What Is the Relationship Between the Law of Diminishing Marginal Utility & Consumer Surplus?. You don't need to have studied economics to be familiar with the law of diminishing marginal utility ...

The answer is a simple economics concept, the concept of diminishing marginal utility. Other things equal, the more you have of something the less additional satisfaction comes from more of it.

If marginal utility were a sufficient account of prices, it could explain both the difference in unit prices and the parity of aggregate prices for gold and other commodities.

An economics professor offers a counterargument to the marginal-utility case for progressive taxation.