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 ...

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 ...

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 ...

Katharine Paljug is a financial writer and editor with over a decade of industry experience. Her writing has covered nearly every aspect of the financial world, from investing in forex to paying for ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...