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Definitions
Marginal Propensity to Consume
Economics
Consumption
Income
An economic metric that quantifies the change in consumption capacity resulting from a change in disposable income.
Read more about Marginal Propensity to Consume.
Definitions
Marginal Propensity to Import
Economics
Marginal Propensity
Imports
Economic Indicators
An economic measure indicating the portion of additional income that will be spent on imports.
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Definitions
Marginal Propensity to Save
Marginal Propensity to Save
Economics
Savings
Consumption
An examination of the Marginal Propensity to Save (MPS), its definitions, frameworks, historical contexts, and case studies in economics.
Read more about Marginal Propensity to Save.
Definitions
Marginal Rate of Substitution (MRS)
Economics
Microeconomics
Utility Theory
Consumer Choice
The additional amount of one good required to compensate a consumer for a small decrease in the quantity of another, per unit of the decrease.
Read more about Marginal Rate of Substitution (MRS).
Definitions
Marginal Rate of Technical Substitution
Marginal Rate of Technical Substitution
Production Function
Isoquant
Analysis of the marginal rate of technical substitution in economics terms
Read more about Marginal Rate of Technical Substitution.
Definitions
Marginal Rate of Transformation
Economics
Marginal Rate of Transformation
Production Possibility Frontier
Opportunity Cost
An exploration of the concept of the marginal rate of transformation in economics which signifies the amount by which one output can be increased if another is reduced, holding total inputs constant.
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Definitions
Marginal Revenue
Economics
Marginal Revenue
Revenue
Microeconomics
Economic Theory
A comprehensive analysis of the economic term 'marginal revenue', its definitions, and applications.
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Definitions
Marginal Revenue Product
Marginal Revenue Product
Economics
Factor Input
The addition to total revenue from a small increase in any factor input, per unit of the increase.
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Definitions
Marginal Social Benefit
Economics
Social Benefit
External Effects
An economics term referring to the increase in social benefit from a marginal increase in an activity, incorporating all external effects.
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Definitions
Marginal Social Cost
Economics
Social Cost
Externalities
Cost Analysis
The increase in social cost resulting from a marginal increase in an activity, including all external effects.
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Definitions
Marginal Tax Rate
Taxation
Economics
Public Finance
Detailed explanation of the marginal tax rate and its implications in economics.
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Definitions
Marginal Utility
Economics
Utility
Consumption
The addition to an individual’s utility from a small increase in consumption of any good, per unit of the increase.
Read more about Marginal Utility.
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Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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