"The increment of the commodity which he is only just induced to acquire (whether by... direct labor or by purchase) may be called its Marginal Increment; because he is on the margin of doubt whether it is worth his while to incur the outlay required to obtain it. And the benefit-giving power, or Utility, of that increment to him may be called the Marginal Utility of the commodity to him."
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University of Cambridge facultyEconomists from EnglandNon-fiction authors from EnglandPeople from LondonUniversity of Oxford faculty
Original Language: English
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Bk III, Ch. III. The Law of Demand
https://en.wikiquote.org/wiki/Alfred_Marshall
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Alfred Marshall
1842 – 1924
Alfred Marshall (26 July 1842 – 13 July 1924) was a British economist, considered one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of economics.
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