Marginal utility

In economics, the marginal utility of a good or service is the gain from an increase, or loss from a decrease, in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that the first unit of consumption of a good or service yields more utility than the second and subsequent units, with a continuing reduction for greater amounts. The marginal decision rule states that a good or service should be consumed at a quantity at which the marginal utility is equal to the marginal cost.

Marginality

The term marginal refers to a small change, starting from some baseline level. As Philip Wicksteed explained the term,

Frequently the marginal change is assumed to start from the endowment, meaning the total resources available for consumption (see Budget constraint). This endowment is determined by many things including physical laws (which constrain how forms of energy and matter may be transformed), accidents of nature (which determine the presence of natural resources), and the outcomes of past decisions made by the individual himself or herself and by others.

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Latest News for: marginal utility

California Considers Taking Over Some Oil Refineries

Slashdot 17 Feb 2025
California is "considering state ownership of one or more oil refineries," reports the Los Angeles Times ... Ship in more gasoline from Asia; regulate refineries on the order of electric utilities; cap profit margins; and many more ... .

Is California government considering oil refinery takeovers? Yes, it is

The Los Angeles Times 16 Feb 2025
Russia. China. Venezuela. Iran. More than a dozen countries make gasoline at state-owned refineries ... Ship in more gasoline from Asia; regulate refineries on the order of electric utilities; cap profit margins; and many more ... Further complicating matters.

LI Black History Month events: Feb. 16-23

Newsday 15 Feb 2025
A Living Portrait of the Christian Avenue Community,” and examine how Dickerson utilized oral history as a tool for community theater, bringing marginalized voices and stories into the spotlight, 7 ...

Majority of Filipinos believe Sara should face Senate impeach trial -- survey

The Manila Times 13 Feb 2025
Tangere conducted the survey from Feb ... Meanwhile, 30 percent disagree ... Tangere's survey utilized a stratified random sampling method, with a margin of error of ±1.96 percent at a 95 percent confidence level ... ....

What the Eaton fire could mean for Edison’s bottom line

The Los Angeles Times 11 Feb 2025
... from the utility ... Utilities in California are typically able to maintain profit margins of about 10%, said Shon Hiatt, a professor of management and organization at the USC Marshall School of Business.

QWP commemorates 50th death anniversary of Shaheed Hayat Sherpao

Urdu Point 11 Feb 2025
... meeting, Chairman QWP Aftab Ahmad Khan Sherpao said that Shaheed Hayat Mohammad Khan Sherpao had spent his life in the struggle for securing rights for poor and marginalized classes of the society.

Patterson-UTI Reports Drilling Activity for January 2025

ACCESSWIRE 11 Feb 2025
adverse oil and natural gas industry conditions; global economic conditions, including inflationary pressures and risks of economic downturns or recessions in the United States and elsewhere; ...

‘Key is to capture medical tech at the right time and make it cost-effective’

Hindustan Times 11 Feb 2025
Also Read. Adani Group to build 1,000-bed hospital in Kandivali ... Also Read ... Health minister ... Also Read ... We wanted to exploit high patient volumes here and maximize capacity utilization, making it more like a Walmart model with low margins but high volume.

'It's killing them': This bill would lower Rhode Island Energy's profits. But is it legal?

The Providence Journal 07 Feb 2025
The legislation would cap the company’s profit margins for both sides of its business at 4%, less than half of what’s currently allowed by state regulators and well below the standard for comparable utilities in other parts of the country.

Sun Country expects to double cargo revenue with Amazon fleet additions

Freight Waves 06 Feb 2025
The margins are great ... Bricker said Sun Country actually benefits from lower utilization of the cargo fleet, because pilots can be redeployed into more high-margin charter or scheduled passenger flying.

Trump's tariffs on Canada and Mexico are delayed. Economic turmoil is here.

Usatoday 06 Feb 2025
His business, he said, already has dealt with pandemic-related worker shortages that have pushed up labor costs and sharply rising utility bills, both of which have narrowed his profit margins ... Brand-name goods, she said, have thinner profit margins.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended December 31, 2024

ACCESSWIRE 06 Feb 2025
adverse oil and natural gas industry conditions, including the impact of commodity price volatility on industry outlook; global economic conditions, including inflationary pressures and risks of ...

Lawrence’s largest natural gas utility files request to raise rates by about $11 per month ...

Lawrence Journal World 05 Feb 2025
The KCC is the state’s regulator of public utilities, and ... That’s a common reason for a rate increase, and the projected profit margin of a utility is often a key consideration for the KCC.

Dr. Gene Dorio | Online Medical Care May Cost You

The Signal 02 Feb 2025
COVID-19 accelerated medical communication as patients and doctors utilized technology to manage health care ... However, we have utilized our marginal computer skills to navigate the sometimes complex aspects of this new technology ... Dr. Gene Dorio ... .

It's high-risk, high-reward game, we are getting the results: Suryakumar Yadav

The Times of India 02 Feb 2025
... in India's second-highest victory margin of 150 runs.England struggled throughout their chase at Wankhede, while Suryakumar utilized part-time bowlers Shivam Dube and Abhishek Sharma effectively.
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