Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...

The Austrian economics framework shows that subjective valuation is not shown to be arbitrary, but rather purposeful, as ...

Learn the key differences between marginal utility and marginal value, how they impact decision-making, and why understanding both is crucial for economic analysis.

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

One of the important contributions of Economics in public policy is the marginal (or extra, additional, incremental) analysis in the increase in cost and revenues, satisfaction and dissatisfaction, ...