Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...

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 ...

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 ...