Marginaalihyöty

Marginaalihyöty, also known as marginal utility, is a concept in economics that refers to the additional satisfaction or benefit a consumer derives from consuming one more unit of a good or service. It is a fundamental principle in the theory of consumer behavior and is used to explain how consumers allocate their limited resources among various goods and services.

The law of diminishing marginal utility states that as a consumer consumes more of a good, the marginal utility of each additional unit decreases. This means that the first unit of a good may provide a high level of satisfaction, but each subsequent unit provides less additional satisfaction. For example, the first slice of pizza may be very satisfying, but additional slices provide less and less satisfaction.

Marginaalihyöty is also used to determine the price of a good or service. Producers typically set the price of a good at the point where the marginal cost of production equals the marginal utility of the good to the consumer. This ensures that the good is priced in a way that maximizes both producer and consumer surplus.

In summary, marginaalihyöty is a key concept in economics that helps explain how consumers make decisions about what to buy and how much to spend. It is used to determine the optimal price of goods and services and to understand the behavior of consumers in the marketplace.