The law of marginal utility states that customer satisfaction decreases with each unit purchased. So, the more your customers purchase, the less satisfaction they get from each additional purchase. If ...

This paper reviews the empirical evidence on the value of the elasticity of marginal utility for the United Kingdom. This parameter is a key determinant of the social discount rate and also informs ...

Consumer surplus is based on the economic theory of marginal utility, which is the additional satisfaction a consumer gains from one more unit of a good or service. The consumer surplus increases as ...