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. Little is known about the life of Homer, the author credited with composing The Iliad and The Odyssey who is arguably the greatest poet of the ancient world. Historians place his birth sometime around 750 BC and conjecture that he was born and resided in or near Chios.