Sentences with MARGINAL-UTILITY

"As a consumer consumes more units of a product, the marginal utility of each additional unit tends to decrease."

"Economists use the concept of marginal utility to analyze consumer behavior and demand."

"The law of diminishing marginal utility states that as a person consumes more of a product, the marginal utility decreases."

"For example, the marginal utility of the first slice of pizza may be high, but the marginal utility of the tenth slice will be much lower."

"When making purchasing decisions, consumers often consider the marginal utility of a product in relation to its price."

"To maximize their total utility, consumers should allocate their spending based on the marginal utility they derive from each product."

"The concept of marginal utility is important in determining the optimal level of production for a firm."

"A rational consumer will continue to consume a product until the marginal utility equals the price they pay for it."

"The concept of marginal utility was first introduced by economist Daniel Bernoulli in the 18th century."

"Consumers may experience negative marginal utility when consuming excessive quantities of a product."

"Consumers may also experience zero marginal utility when consuming a product that does not offer any additional satisfaction."

"Economists use mathematical equations to represent and analyze changes in marginal utility."

"The concept of marginal utility is closely related to the concept of diminishing returns in production."

"Economists use the term 'utils' to measure and quantify the amount of marginal utility derived from a product."

"The concept of marginal utility helps explain why individuals are willing to pay more for rare or scarce goods."