Marginal Utility & its Diminishing Methods
Journal Title: International Journal of Tax Economics and Management - Year 2019, Vol 2, Issue 2
Abstract
In this article we have shown what is marginal utility in economics and its diminishing method mathematically. Marginal utility is an economic concept and very important to the theory of economic sciences. So we selected this topic to describe it with the concept of economics and mathematics elaborately. At the beginning of this article readers will find the definition of marginal utility and at the middle of this article, readers will find it's diminishing method mathematically. The term marginal utility has a good impact in economics. In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.
Authors and Affiliations
Antônio Souza Araujo, Luiz Carvalho Castro
An Overview on Organization for Economic Co-operation & Development
The Organization for Economic Co-operation and Development (OECD; French: Organization de co-operation ET de development economies, OCDE) is an intergovernmental economic organization with 36 member countries, founded in...
Insurance and Insurance Risks in Health Economics
Health Economics is a significant field of economy. Development of a nation is crucially connected with the condition of health of its people, and health is now been accepted as an important determinant of economic devel...
The Possible Effects of Personal Income Tax and Value Added Tax on Consumer Behaviors
In economics literature, it is accepted that all people are rational and they try to maximize their utilities as possible as they can. In addition, economic theories are formed with the assumptions not suitable to real l...
Tax & Value Added Tax—In View of Bangladesh
Most developing counties are increasingly focusing on domestic resource mobilization toward economic development. In this context, tax performance is of crucial importance, especially for a developing country, since it i...
An Overview on Macroeconomics: Ideas, Approaches and Importance
This article includes various topics related macroeconomics. In the beginning the nature of macroeconomics are described. Then the article turns describing many terms of this macroeconomics. The utility of macroeconomics...