The Marginal Utility of a good is the increase in total utility obtained by consuming one more unit of that good, for given consumption of other goods.

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...