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
Involves more than one borrower being responsible for a mortgage, such as with a cooperative apartment. Involves more than one mortgagee lent on a real estate project, such as with a ...
A charge based on the asset value of a real estate security portfolio to manage it. For an open-end mutual fond, the management charge is included in the selling cost of the security. ...
The Latin term pro rata has a significant meaning in legal, real estate as well as job industries. To define pro rata, anyone can take a quick vocabulary lesson. Any element that is split ...
Everyone is aware of the perplexing complexities of a real estate transaction. Enter Opendoor, a company that aims to simplify this experience. If you're a house hunter, seller, real estate ...
Recurring obligation or assurance given. ...
Evaluating a locality to determine its value and appropriateness for designated objectives. ...
Waste matter carried off through a series of conduits to a waste disposal facility. ...
The term accusation refers to a declaration made by an individual about another individual or entity having behaved in an immoral, improper, or wrong manner. The two parts of an accusation ...
Same as term nonconforming use: Property use which is in violation of the current zoning ordinance, but had been in use prior to the zoning ordinance's enactment. A nonconforming use is ...
Have a question or comment?
We're here to help.