| 单词 | marginal utility of money |
| 释义 | marginal utility of money The amount by which an individual's utility would be increased by a small addition to their money holding, per unit of the increase. It is assumed that other assets held do not change, so that the extra money represents a net increase in total wealth. In considering particular goods, it is convenient to assume that the marginal utility of money is constant. The demand curve for any good can then be found, using the argument that the quantity consumed will be adjusted so that the marginal utility of good X equals its price times the marginal utility of money. In considering the overall utility of the invididual, it seems sensible to assume that the marginal utility of money, taken here as being equal to the marginal utility of wealth, decreases. Having more money to spend may raise utility, but given that money cannot buy love or life there is probably some upper bound to the utility level that can be achieved even with unlimited wealth. |
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