And the function for the marginal utility of money was a simple logarithm, which looked like this: with money ($) on the x-axis and utility (U) on the y-axis. The story in the curve is ...

Marginal utility was seen as undeniably ordinal ... the first treatment of actual indifference curves on a graph came with Vilfredo Pareto's book "Manual of Political Economy" in 1906.

Marginal benefit refers to the incremental increase in utility or satisfaction derived by a consumer from the consumption of one additional unit of a good or service. Marginal benefit is the most ...