Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

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.

The author blends historical narrative with a topical approach and discusses such aspects of the theory as measurement, total value, and imputation. Originally published in 1965. The Princeton Legacy ...

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 ...