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Marginal utility |
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Marginal utilityThe change in total satisfaction as a result of consuming one additional unit of a specific good or service.Marginal utility Similar MatchesMarginal costMarginal costThe increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. Marginal efficiency of capitalMarginal efficiency of capitalThe percentage yield earned on an additional unit of capital. Marginal propensity to saveMarginal propensity to saveThe fraction of a change in income (or perhaps disposable income) that is saved. Marginal propensity to consumeMarginal propensity to consumeThe fraction of a change in income (or perhaps disposable income) spent on consumption. Contrasts with average propensity to consume. Marginal productMarginal productIn a production function, the marginal product of a factor is the increase in output due to a unit increase in the input of the factor; that is, the partial derivative of the production function with respect to the factor. In a competitive equilibrium, the equilibrium price of any factor is its marginal value product in every sector where it is employed. Further SuggestionsMarginal revenueMarginal rate of transformation Marginal value product marginal tax rate Marginal propensity to import Marginal revenue product Marginal Marginal propensity Marginal rate of substitution Value marginal product Marginal tax rate |
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