Marginal Utility/ Law of Diminishing MU

Marginal Utility/ Law of Diminishing MU

Summary of Article

The central theme of the article “How The Marginal Utility Of Money Balances With Value” hovers around the utility of money in terms of its utility and pricing mechanism. However, the role of cash in this particular aspect is pivotal. The contributor Kay (2013) describes vividly the role which money plays, both in economic and social terms. For instance, in order to simplify the concept of marginal utility of money, the article compares the edge of the paper which is not used for writing. But in economic terms it ...