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.
The Odyssey is an epic poem, written by the ancient Greek philosopher Homer, and considered to be the second oldest piece of western literature still in existence. Scholars believe it was written at the end of the eighth century BC. Still heavily used in schools because of its unique literary makeup and historical value, the poems follow Greek hero Odysseus, as he journeys home after the 10-year long Trojan War.