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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 tax rateMarginal tax rateThe tax rate that would have to be paid on any additional dollars of taxable income earned. Marginal value productMarginal value productThe value of the marginal product of a factor in an industry; that is, the price of the good produced times the marginal product. Determines factor prices when all markets are competitive. Marginal propensity to importMarginal propensity to importThe fraction of a change in income (or perhaps disposable income) spent on imports. Contrasts with average propensity to import. Marginal costMarginal costThe increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. Marginal tax rateMarginal tax rateThe additional tax which someone pays on each £1 increase of his or her taxable income. In the UK the tax bands for 2003-2004 tax year are:10 per cent on the first slice of earnings22 per cent on next slice40 per cent on top sliceUnder the 'progressive' tax system, once someone's earnings take him into the top tax bracket, any extra earnings will be taxed at the top rate. So someone who is in the 40 per cent bracket has a marginal tax rate of 40 per cent. Further SuggestionsMarginal revenue productMarginal product Marginal rate of substitution Marginal propensity Marginal rate of transformation Value marginal product Marginal Marginal efficiency of capital Marginal propensity to consume Marginal propensity to save Marginal revenue |
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