Rjakäyttöarvo

Rjakäyttöarvo, often translated as marginal utility, is an economic concept referring to the additional satisfaction or benefit a consumer derives from consuming one more unit of a good or service. This concept is central to understanding consumer behavior and demand. As a person consumes more of a particular good, the additional satisfaction gained from each successive unit tends to decrease. This is known as the law of diminishing marginal utility.

For example, the first slice of pizza might provide immense satisfaction, but the tenth slice will likely provide very little, if any, additional pleasure. Economists use the concept of rjakäyttöarvo to explain why demand curves slope downward. Consumers will only purchase additional units of a good if the price they have to pay is less than or equal to the marginal utility they expect to receive from that unit. If the price is higher than the marginal utility, the consumer will not purchase it.

The idea of rjakäyttöarvo was developed by economists such as William Stanley Jevons and Carl Menger in the late 19th century, contributing to the development of marginalist economics. It helps explain how individuals make rational choices to maximize their utility given their budget constraints. Understanding rjakäyttöarvo is crucial for businesses in setting prices and for policymakers in analyzing market behavior.