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 ...

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 ...

Mit der Begründung der ordinalen Nutzentheorie durch Pareto war der Begriff des Grenznutzens nicht mehr quantitativ interpretierbar. Lediglich die Grenzrate der Substitution erwies sich den jetzt ...