It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

Giornale degli Economisti e Annali di Economia, Nuova Serie, Anno 42, No. 11/12 (Novembre-Dicembre 1983), pp. 749-768 (20 pages) The striking contemporaneous appearance of the theory of value based on ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Michael Boyle is an experienced financial ...