Marginal Utility
Additional utility an individual receives when purchasing an additional unit of a commodity or service. Represents a trade off between units of cost and unit of utility. For example, an individual builds a luxury home with a swimming pool. To build a tennis court would cost $50,000 and require yearly maintenance. To add two tennis courts is extremely low, the marginal utility of building the additional tennis court at $25,000 is not enough to offset the additional cost involved. However, if it cost only $5,000 to build the additional tennis court, then there may be sufficient marginal utility to justify its construction.
Popular Real Estate Terms
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Nonprofit entity disseminating advice and data on the best utilization of land. The address is 1090 Vermont Avenue, NW, Washington, DC 20005, telephone (202)289-3307. ...
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Molding used in corners simulating a quarter of a circle. ...
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