Marginal utility, then, asks how much a one-unit change in a variable will impact our utility (that is, our level of happiness. Marginal utility analysis answers questions such as:
The Greek poet Homer was born sometime between the 12th and 8th centuries BC, possibly somewhere on the coast of Asia Minor. He is famous for the epic poems The Iliad and The Odyssey, which have had an enormous effect on Western culture, but very little is known about their alleged author. Homer is a mystery.
Homer: Homer, presumed author of the Iliad and the Odyssey. Although these two great epic poems of ancient Greece have always been attributed to the shadowy figure of Homer, little is known of him beyond the fact that his was the name attached in antiquity by the Greeks themselves to the poems.