Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

Brent Radcliffe has 10+ years of experience as both a digital marketing analyst and writer for Investopedia. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, ...

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

Here at the Olin Business School at Washington University in St. Louis - just recently ranked the top undergraduate business program in America - it's that time of year for students to start cramming ...

A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...