Economic Definition of marginal utility. Defined.
Offline Version: PDF
Term marginal utility Definition: The additional utility, or satisfaction of wants and needs, obtained from the consumption or use of an additional unit of a good. It is specified as the change in total utility divided by the change in quantity. Marginal utility indicates what each additional unit of a good is worth to a consumer.
« marginal tax rate | marginal utility and demand »
Permalink: https://glossary.econguru.com/economic-term/marginal+utility