Gendernomics: The marginal utility

marginal-utility-curveWhen it comes to economics, marginal utility a good or service is the added benefit gained from an increase in consumption or loss experienced from a decrease in consumption of a good and service. The law of diminishing marginal utility states that as you consume more units of a good or a service the marginal utility will decrease with consumption. For instance, if you have enough money to consume 2 beers or 2 sandwiches, or 1 beer and 1 sandwich, the latter would be marginal utility maximizing. Continue reading