From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Ludwig von Mises was born 144 years ago today. His economic masterpieces are as relevant and powerful today as when they were ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

This paper contains an analysis of how the social marginal utilities of income assigned to different persons change in response to changes in prices, the provision of public goods and other parameters ...

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...