From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

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.

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You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

Forbes contributors publish independent expert analyses and insights. A former Dallas Fed president, I cover the economy. This is not an argument for more quantitative easing, or QE3, as it would ...

The Quarterly Journal of Economics, Vol. 27, No. 4 (Aug., 1913), pp. 547-578 (32 pages) The current theory of value fails to the account of inequality, 547.--Value as a "ratio in exchange" to be ...

This paper contains an analysis of how the social marginal utilities of income assigned to different persons change in response to changes in prices, the provision of public goods and other parameters ...