Austrian economists differ with the economic mainstream in many ways, but the break on utility theory is especially critical ...

The law of marginal utility states that customer satisfaction decreases with each unit purchased. So, the more your customers purchase, the less satisfaction they get from each additional purchase. If ...

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 ...

Economica is an international journal devoted to research in all branches of economics. Theoretical and empirical articles are published from all parts of the international research community.