Total utility is an essential concept in economics that helps determine the satisfaction a consumer derives from consuming a certain quantity of goods or services. Understanding how to calculate total ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...

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 ...