marginal utility

Definitions

Economics

  • noun the consumer’s satisfaction at acquiring one more unit of a good. It diminishes as more units of the good are purchased.

Health Economics

  • (written as Marginal Utility)
    The change in utility associated with a small increase (fall) in the rate of consumption of the good yielding it. Mathematically it is the first derivative of utility with respect to changes in the consumption of something.

Marketing

  • noun satisfaction gained from using one more unit of a product
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