You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

Austrian economists differ with the economic mainstream in many ways, but the break on utility theory is especially critical ...

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.

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 ...

Many introductory microeconomics textbook authors derive the law of demand from the assumption of diminishing marginal utility. Authors of intermediate and graduate textbooks derive demand from ...

Fiscal Studies, Vol. 26, No. 2 (June 2005), pp. 197-224 (28 pages) In social project appraisal, the policy profile of both distributional welfare weights and the social discount rate has risen ...

After facing criticism for charging students exorbitant textbook fees, Professor N. Gregory Mankiw, who teaches the most enrolled course at the College, Economics 10, announced that he would donate ...