Marginal Utility & its Diminishing Methods
Journal Title: International Journal of Tax Economics and Management - Year 2019, Vol 2, Issue 2
Abstract
In this article we have shown what is marginal utility in economics and its diminishing method mathematically. Marginal utility is an economic concept and very important to the theory of economic sciences. So we selected this topic to describe it with the concept of economics and mathematics elaborately. At the beginning of this article readers will find the definition of marginal utility and at the middle of this article, readers will find it's diminishing method mathematically. The term marginal utility has a good impact in economics. In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.
Authors and Affiliations
Antônio Souza Araujo, Luiz Carvalho Castro
Keywords
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- EP ID EP618514
- DOI 10.35935/tax/22.4735
- Views 85
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