Definition of Marginal utility

1. Noun. (economics) the amount that utility increases with an increase of one unit of an economic good or service.

Category relationships: Economic Science, Economics, Political Economy
Generic synonyms: Utility

Definition of Marginal utility

1. Noun. (economics) The additional utility to a consumer from an additional unit of an economic good. ¹

¹ Source:

Marginal Utility Pictures

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Lexicographical Neighbors of Marginal Utility

marginal gyrus
marginal keratitis
marginal layer
marginal mandibular branch of facial nerve
marginal part of orbicularis oris muscle
marginal placentation
marginal rays
marginal ridge
marginal ring ulcer of cornea
marginal sea
marginal seas
marginal sphincter
marginal tentorial branch of internal carotid artery
marginal tubercle
marginal tubercle of zygomatic bone
marginal utility (current term)
marginal wood fern
marginal zone

Literary usage of Marginal utility

Below you will find example usage of this term as found in modern and/or classical literature:

1. Principles of Economics by Frank William Taussig (1921)
"There being non-competing groups, demand (marginal utility) governs relative wages. How this principle applies to a grade or group; ..."

2. The Value of Money by Benjamin McAlester Anderson (1917)
"t This contention, in Professor Fisher's view, precludes the application of the marginal utility theory to the problem of the value of money, ..."

3. Principles of Economics by Frank William Taussig (1915)
"and the marginal utility or efficiency of their services, is therefore high. So it is as to mechanics and skilled workmen ..."

4. The Yale Review by Yale University, George Park Fisher, George Burton Adams, Henry Walcott Farnam, Arthur Twining Hadley, John Christopher Schwab, William Fremont Blackman, Edward Gaylord Bourne, Irving Fisher, Henry Crosby Emery, Wilbur Lucius Cross (1906)
""The dependence felt by men on the whole group is the product of the units by the marginal utility" (p. 25). Aside from whether a social utility of value is ..."

5. History of Economic Thought: A Critical Account of the Origin and by Lewis Henry Haney (1920)
"... development of the marginal-utility analysis in value theory is commonly associated with the names of Jevons and of the members of the Austrian School. ..."

6. Value and Distribution: A Critical and Constructive Study by Herbert Joseph Davenport (1908)
"Subjective Wert is then badly presented when, as over and again in Austrian discussion, it is made exclusively a question of marginal utility. ..."

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