It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

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 ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Do the Astros have the answer at backup catcher already in house?

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Michael Boyle is an experienced financial ...

Reading Butch Mazzuca’s fanciful story about college students being taught a Catch 22 dilemma (“Today’s political Catch-22”) brought to mind a college economics course years ago in which our professor ...

Giornale degli Economisti e Annali di Economia, Nuova Serie, Anno 42, No. 11/12 (Novembre-Dicembre 1983), pp. 749-768 (20 pages) The striking contemporaneous appearance of the theory of value based on ...