Getting every advantage possible in your business is important. Using proper analytical techniques and up-to-date business theory will help your business succeed. Economic principles, especially ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.