None of these sites refer to economics’ investment mantra — invest to maximize your expected ... It’s called diminishing marginal utility. It means the extra happiness from the first hotdog ...

Economists use the concept of marginal utility to explain how consumers make choices to maximize their total ... It shows all the combinations of these two items that provide the consumer with ...

The consumer indifference curve shows various combinations ... Utility maximization is key to deriving the demand function. Because they are equal where utility is maximized, the marginal rate ...

Using it, we assume (one of our favorite words) that people have a set of things that they care about, and that these things work together to give them “utility”, or satisfaction. Without consciously ...