marginal utility



  • 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.


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