Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Michael Boyle is an experienced financial professional with ...

One of the important contributions of Economics in public policy is the marginal (or extra, additional, incremental) analysis in the increase in cost and revenues, satisfaction and dissatisfaction, ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...

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 ...

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...