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 was a poet in ancient Greece. Many people believe that he created the classic stories of the Iliad and the Odyssey. These long poems tell of historic events and heroic deeds during and after the Trojan War in ancient Greece. They have been translated into many languages.