Marginal utility
Marginal utility is a concept from economics that describes the change in utility from consuming more or less of a good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that consuming the first unit usually has a higher utility than every other unit. When the number of units that are consumed increases, their marginal utility decreases.
The more we have a commodity or a service, the less we want to have more of it.
Marginal Utility Media
Profile of Adam Smith. The original depiction of Smith was created in 1787 by James Tassie in the form of an enamel paste medallion. Smith did not usually sit for his portrait, so a considerable number of engravings and busts of Smith were made not from observation but from the same enamel medallion produced by Tassie, an artist who could convince Smith to sit
Richard Whately, (February 1, 1787 – October 8, 1863), English philosoph
Portrait of the mathematician Gabriel Cramer (1704-1752) by an unknown artist.
Vilfredo Pareto
John von Neumann
