The benefit gained from consuming one additional unit of a product or service.
the law of marginal utility states that the first x is worth more than the second x (be it dollars, hours of free time, video games, pieces of food, etc.)
Example sentencesExamples
Gold is the monetary metal par excellence because it has constant marginal utility.
Only with the use of money is it possible to compare the marginal utility of goods in all alternative employments.
There is a diminishing marginal utility of savings to any wealth holder, meaning the more you have, the less you need more.
Students can better understand diminishing marginal utility when a student is allowed to eat all of the chocolate cookies they want and stops eating at some point even though the cookies are free.
Its marginal utility tops off after about 10 listens.
Definition of marginal utility in US English:
marginal utility
noun
Economics
The benefit gained from consuming one additional unit of a good or service.
the value of corn for this farmer would be determined by its marginal utility
Example sentencesExamples
Gold is the monetary metal par excellence because it has constant marginal utility.
Students can better understand diminishing marginal utility when a student is allowed to eat all of the chocolate cookies they want and stops eating at some point even though the cookies are free.
There is a diminishing marginal utility of savings to any wealth holder, meaning the more you have, the less you need more.
Its marginal utility tops off after about 10 listens.
Only with the use of money is it possible to compare the marginal utility of goods in all alternative employments.