What does marginal utility mean?

Definitions for marginal utility

Here are all the possible meanings and translations of the word marginal utility.

Princeton's WordNet

  1. marginal utility(noun)

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


  1. marginal utility(Noun)

    The additional utility to a consumer from an additional unit of an economic good.


  1. Marginal utility

    In economics, the marginal utility of a good or service is the gain from an increase or loss from a decrease in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that the first unit of consumption of a good or service yields more utility than the second and subsequent units, with a continuing reduction for greater amounts. The marginal decision rule states that a good or service should be consumed at a quantity at which the marginal utility is equal to the marginal cost. The concept of marginal utility played a crucial role in the marginal revolution of the late 19th century, and led to the replacement of the labor theory of value by neoclassical value theory in which the relative prices of goods and services are simultaneously determined by marginal rates of substitution in consumption and marginal rates of transformation in production, which are equal in economic equilibrium.


  1. Chaldean Numerology

    The numerical value of marginal utility in Chaldean Numerology is: 4

  2. Pythagorean Numerology

    The numerical value of marginal utility in Pythagorean Numerology is: 2

Images & Illustrations of marginal utility

  1. marginal utilitymarginal utilitymarginal utility


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"marginal utility." Definitions.net. STANDS4 LLC, 2018. Web. 18 Feb. 2018. <https://www.definitions.net/definition/marginal utility>.

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