Examlex
The development of penitentiaries were considered an advancement in how best to deal with criminals.
Px(MUx)
This expression denotes the price of a good (Px) multiplied by its marginal utility (MUx), commonly used in economic analysis of consumer choice.
MUx/MUy
Represents the marginal utility of good x relative to the marginal utility of good y, often used in consumer choice theory to analyze optimum consumption points.
TUx/Px
An economic expression evaluating the marginal rate of substitution, which measures how much of one good a consumer is willing to give up for another good, maintaining a constant level of utility.
Marginal Utility
The extra pleasure or advantage gained from using another unit of a product or service.
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