Vocab Bloom Hub

marginal utility

/ˈmɑːrdʒɪnəl juːˈtɪləti/

1 entry

phrase

/ˈmɑːrdʒɪnəl juːˈtɪləti/C1formalbusiness
  • ruЭкономическая концепция, обозначающая дополнительное удовлетворение или выгоду, получаемую от потребления ещё одной единицы товара или услуги, которая обычно уменьшается по мере увеличения потребления.

An economic concept referring to the additional satisfaction or benefit gained from consuming one more unit of a good or service, which typically decreases as consumption increases.

  1. Economic conceptC1formal

    The additional satisfaction or benefit gained from consuming one more unit of a good or service.

    ruЭкономическая концепция

    • The law of diminishing marginal utility states that as consumption increases, the extra satisfaction decreases.
    • Economists use marginal utility to explain consumer choice.
    • If the marginal utility of a product is high, consumers are willing to pay more for it.