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Economists prefer to imagine individuals as miniature computers who weigh the pros and cons of every choice
they make. Economists call the benefit of a decision the marginal benefit because people tend to make decisions
one at a time. The marginal benefit can be calculated in either dollars or utils. Utils measure the positive
emotional response to an activity. It's simple to exchange them into US cash.
Let's pretend you have an hour to spend swimming laps at the local pool. Does lap swimming award any utils?
If you weren't required to swim laps, how much money could you expect to make? If your friend keeps offering
you more and more money to stay out of the pool, it's safe to conclude that the price you eventually agree to is at
least equal to the satisfaction or benefit you would have gained from a dip. To put it another way, if you can be
dissuaded from going swimming for twenty dollars, you don't put much importance on swimming. Twenty
utility points are awarded to you for swimming.
Comparable ideas include marginal cost. The marginal cost of producing or consuming an additional unit of a
good or service is simply the cost of doing so.

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