41. The activities of entrepreneurs make prices more accurate in terms of how they represent the marginal utility of consumers. 42. Individuals will tend to obtain diminishing levels of satisfaction, or marginal utility from acquiring additional units of a good. 43. VORP's usefulness is in the fact that it measures contribution at the margin ( as in marginal utility ). 44. Quantified utility models simplify the analysis of risky decisions because, under quantified utility, diminishing marginal utility implies risk aversion. 45. Marginalism is the theory that economic value results from marginal utility and marginal cost ( the marginal concepts ). 46. To put this as an economist might : Blount's book is a literary version of the law of marginal utility . 47. Thus, supply and demand do not develop into the determinants of value; the determinant of value is the marginal utility . 48. Thus if one is concave, so is the other, in which case there is said to be diminishing marginal utility . 49. He believed that prices of goods and services are proportional to marginal utility rather than to labor amounts in free market. 50. Lerner applied the concept of utility and its associated " law of marginal utility " to the distribution of income in society.
