Although water has greater total utility—it is necessary to sustain life—the iPhone has greater marginal utility This helps explain why one additional unit of water is rarely as valuable as ...

Consumers' marginal benefit is also referred to as "marginal utility." Under an economic precept ... cutting into your total profit. Produce less, and you'll be leaving profit on the table.

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Marginal utility and ... by dividing the total change in benefit by the ...