Tags » Marginal Utility

Subjectivism and Marginal Utility Shouldn't Be Marginalized in Economics

This entry will illustrate the subjective value theory and the theory of marginal utility, which are very important in economics. 

“Oh, you’re subjective! Be objective.” 2,135 more words


A Microeconomic Perspective: Cobb-Douglas Preferences

This week I’m working on a post that breaks down the intra-workings of the Solow Growth model, which uses a Cobb-Douglas production function. If one is not familiar with Cobb-Douglas functions, it may be confusing to try and use them. 115 more words

Consumer Choice

Desire for Wealth is Unlimited, yet Subject to the Law of Diminishing Marginal Utility (ST I-II.2.1, Comm. Eth. 10.8)

According to Aquinas, while the desire for “natural wealth,” i.e., those goods which satisfy our natural necessities, is limited and determinate, our desire for “artificial wealth,” or those goods which we are able to exchange for natural wealth, is not. 481 more words

Why risking nuclear war should be a war crime

Nov 19, JDN 2458078

“What is the value of a human life?” is a notoriously difficult question, probably because people keep trying to answer it in terms of dollars, and it rightfully offends our moral sensibilities to do so. 2,285 more words

Public Policy

Law of diminishing Marginal utility

Mrginal utility in economics is an additional utility that a consumer get from additional consumption of the successive unit.

Let me explain you with an example. 113 more words


A2 Revision - Marginal Utility Theory

With the A2 exam not far away I thought it appropriate to post something on Marginal Utility. This is usually a multiple-choice question and part of an essay. 497 more words


Deactivated in Chinatown

Every pay period, I receive a physical paycheck and grumble about the lack of direct deposit.  After snapping a photo through my bank’s app I stuff the check back into the envelope.  229 more words