Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Marginal utility and benefit are closely-related concepts that describe how the ...

Total utility is the aggregate satisfaction that a consumer receives through the consumption of a goods or services. Total utility is often compared to marginal utility, which is the satisfaction a ...

A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...