Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.

There are two major ways in which a pharmacogenomic marker may affect the risk of a clinical or surrogate outcome. As there is currently no standard terminology, we use the terms ‘prognostic’ and ...