Core-005 Marginal Utility
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About Core-005 Marginal Utility
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Diminishing Marginal Utility
MODULE 1
Utility is the amount of satisfaction the consumer receives from a bundle of goods. Marginal utility is the increase in utility that a consumer gets from an additional unit of the good. Most goods have diminishing marginal utility since the consumer with more goods receives less marginal utility from an extra unit of the good.
Diminishing Marginal Utility Theory
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Given the constraints of income and price, this video shows how a consumer allocates income between alternative consumer goods, in order to maximize utility.
Diminishing marginal utility explored with a consumer drinking more cups of coffee.
Case Study - Diminishing Marginal Utility
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The video reviews marginal utility using "utils" to measure satisfaction at Thanksgiving dinner.
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