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it is a marginal problem

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  • Marginal utility — In economics, the marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that… …   Wikipedia

  • marginal — adjective Etymology: Medieval Latin marginalis, from Latin margin , margo Date: 1573 1. written or printed in the margin of a page or sheet < marginal notes > 2. a. of, relating to, or situated at a margin or border b. not of central importance …   New Collegiate Dictionary

  • marginal utility — Econ. the extra utility or satisfaction derived by a consumer from the consumption of the last unit of a commodity. [1920 25] * * * In economics, the additional satisfaction or benefit (utility) that a consumer derives from buying an additional… …   Universalium

  • Economic calculation problem — The economic calculation problem is a criticism of socialist economics. It was first proposed by Ludwig von Mises in 1920 and later expounded by Friedrich Hayek.cite book title= Economic calculation in the Socialist Commonwealth accessdate=2008… …   Wikipedia

  • Transformation problem — In 20th century discussions of Karl Marx s economics the transformation problem is the problem of finding a general rule to transform the values of commodities (based on labour according to his labour theory of value) into the competitive prices… …   Wikipedia

  • Monty Hall problem — In search of a new car, the player picks a door, say 1. The game host then opens one of the other doors, say 3, to reveal a goat and offers to let the player pick door 2 instead of door 1. The Monty Hall problem is a probability puzzle loosely… …   Wikipedia

  • Ramsey problem — The Ramsey problem or Ramsey Boiteux pricing, is a policy rule concerning what price a monopolist should set, in order to maximize social welfare, subject to a constraint on profit. A closely related problem arises in relation to optimal taxation …   Wikipedia

  • Principal-agent problem — In political science and economics, the principal agent problem or agency dilemma treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent. Various mechanisms may be used to try… …   Wikipedia

  • Three Prisoners problem — The Three Prisoners Problem appeared in Martin Gardner s Mathematical Games column in Scientific American in 1959 [Gardner, Martin (1959a). Mathematical Games column, Scientific American , October 1959, pp. 180–182.] [Gardner, Martin (1959b).… …   Wikipedia

  • trivial question — marginal problem, question which lacks importance, problem which lacks taste …   English contemporary dictionary

  • Externality — External redirects here. For other uses, see External (disambiguation). In economics, an externality (or transaction spillover) is a cost or benefit, not transmitted through prices,[1] incurred by a party who did not agree to the action causing… …   Wikipedia

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