Marginal utility is measured by the benefit you receive from something. The laws of economics states to receive maximum benefit you must use all your funds to purchase things that give you utility. Utility as a unit of measurement is lofty to me because utility varies from person to person. For instance, the amount of utility I receive from a pedicure is not the same utility my best friend receives. I personally would purchase a pedicure after a stressful week; whereas, my friend would prefer to spend the same amount of money on a few drinks with friends. Because of the wide variation, I don’t understand how someone could confidently say anything about studying or stating marginal utility of more than just one individual.
I think it is more a measure of one person's utility for one more of something they already use or buy. For instance, I, like many fat people, enjoy donuts. I can go to the Krispy Kreme and order a dozen heavenly hot glaze for whatever that costs. I can generally eat three donuts before I start to get sick of them. For me the marginal utility is between the 3rd and 4th delicious glazed donut. I do not enjoy number four any where near as much as number three. Of course, I have on occasion tried to eat number 5. This is where I get sick. No utility for number 5.
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