(2) Podcast 2 - Marginal

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PODCAST 2:The Concept of ‘Marginal’ : 

PODCAST 2:The Concept of ‘Marginal’ Brett Day

Slide 2: 

‘… Marginal …’ ‘… ONE MORE UNIT OF …’

Slide 3: 

Consumption: The Utility Function Utility Quantity Jacob’s Cream Crackers Utility Function 1 2 3 4 5 6       Marginal Utility Marginal Utility Marginal Utility Marginal Utility (MU)  0 Diminishing Marginal Utility Marginal Utility