marginal utility


Definition of marginal utility

: the amount of additional utility provided by an additional unit of an economic good or service

Examples of marginal utility in a Sentence

Recent Examples on the Web Something about marginal utility, blah blah, and some Keynesian claptrap about wondrous government spending. Andy Kessler, WSJ, "Your 2020 Econ Crash Course," 12 July 2020 His central idea of marginal utility was simultaneously developed in England by W.S. Jevons and on the Continent by Léon Walras. Edward Chancellor, The New York Review of Books, "The Long Shadow of the Austrian School," 29 Apr. 2020 Prices were determined by supply and demand, considering the marginal utility or marginal cost of something. Eshe Nelson, Quartz, "One of the world’s most influential economists is on a mission to save capitalism from itself," 22 July 2019 There’s a term for this in economics: diminishing marginal utility. Sloane Crosley, The Cut, "The Doctor Is a Woman," 26 Mar. 2018 Its 800 or so members—often science and engineering types—meet twice a month for dancing, kayaking or just a good, old-fashioned debate about the marginal utility of funding a global deworming program. Anne Kadet, WSJ, "Charitable Sleuths Chase Donor Efficiency," 9 Aug. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'marginal utility.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of marginal utility

1890, in the meaning defined above

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The first known use of marginal utility was in 1890

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Cite this Entry

“Marginal utility.” Dictionary, Merriam-Webster, Accessed 30 Sep. 2020.

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