marginal benefit

USAGE SUMMARY

"marginal benefit" is a correct and commonly used phrase in written English.
It is typically used in economics and business contexts to refer to the additional benefit gained from producing one additional unit of a good or service. Example: The company's decision to increase production of their popular product is driven by the marginal benefit they expect to receive from each additional unit sold.

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

This is a wedge between productivity y (on the margin of weeks worked) and the worker's marginal benefit.

IZA Journal of Labor Policy

"It's the basic marginal benefit of each extra dollar.

The New Yorker

Thus, the marginal benefit from buying a share is $10.

Harvard University

Yes, students gain marginal benefit from having their mistakes highlighted.

The New York Times

seemed to be of marginal benefit, action for no good, clear, definable purpose," he writes.

The New York Times - Books

"The risk to employees was much greater than any marginal benefit of the productivity you get".

The New York Times - Tech

"And my suspicion is that higher doses, if effective at all, would be of marginal benefit".

The New York Times - Health

The marginal benefit might be less, but you've still got to do it.

Harvard Business Review

So the first-price auction is a classic trade off: marginal benefit and marginal cost.

Yale University

"Gender and sexual orientation were of at best marginal benefit to Quinn.

The New York Times

What this does is raise the marginal benefit of spending on disaster relief.

The New York Times

Expert writing Tips

Best practice

When discussing economic decisions, clearly define what constitutes the "unit" in "marginal benefit". For example, is it an hour of labor, a unit of production, or a dollar spent?

Common error

Avoid assuming that the average benefit is the same as the "marginal benefit". The average benefit considers the total, while the marginal benefit considers only the additional unit.

Linguistic Context

The phrase "marginal benefit" functions primarily as a noun phrase, often acting as the subject or object of a sentence. It refers to the additional advantage or satisfaction gained from an incremental increase in an activity or consumption, as illustrated in Ludwig's examples.

Expression frequency: Very common

Frequent in

Science

32%

News & Media

30%

Formal & Business

20%

Less common in

Academia

10%

Encyclopedias

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "marginal benefit" is a noun phrase denoting the extra advantage gained from an incremental increase. Ludwig AI confirms its grammatical correctness and common usage across various domains, including science, news, and business. When using the phrase, clearly define the 'unit' being considered to avoid ambiguity. Be cautious not to confuse marginal and average benefits. Alternative expressions include "incremental advantage" and "additional gain". This term is essential for assessing the cost-effectiveness of decisions.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

incremental advantage

Emphasizes the gradual and small-scale nature of the added benefit.

additional gain

Highlights the increase in profit or value obtained.

extra value

Focuses on the supplementary worth derived.

added perk

Suggests a bonus or supplementary advantage.

supplementary advantage

Indicates an additional benefit that enhances the existing one.

slight improvement

Conveys a minor positive change or enhancement.

limited upside

Implies there's a restricted potential for positive outcomes.

small edge

Denotes a slight advantage over competitors or the status quo.

minor enhancement

Highlights the small-scale improvement made.

marginal utility

Focuses on the satisfaction a consumer receives from one more unit of a good or service.

FAQs

How is "marginal benefit" used in economics?

In economics, "marginal benefit" refers to the additional satisfaction or utility that a consumer receives from consuming one additional unit of a good or service. It helps in determining the optimal quantity to consume or produce.

What's the difference between "marginal benefit" and "marginal cost"?

"Marginal benefit" is the additional gain from one more unit, while "marginal cost" is the additional expense incurred from producing that unit. Comparing them helps in making optimal decisions.

How do you calculate "marginal benefit"?

Marginal benefit is calculated by dividing the change in total benefit by the change in quantity. For example, if increasing production from 10 to 11 units increases total benefit from $100 to $108, the marginal benefit is $8.

What are some alternatives to "marginal benefit"?

Depending on the context, you can use alternatives like "incremental advantage", "additional gain", or "extra value" to convey a similar meaning to "marginal benefit".