The Value of the Last Cup

Written by Studio AM.

A hiker reaches a rest stop with no water left. The first cup from a public fountain feels precious. It ends her thirst. A second cup is welcome too. It fills her bottle for the next mile.

The fountain still has plenty of water. A third cup could wash dust from her hands. A fourth might water a small plant beside the bench. Each cup is useful, but the next use matters less to her than the one before it.

Economists call this marginal value. It is the value of one additional unit, not the value of water as a whole. The idea helps explain why the same person may pay much for a first needed cup but little for another when her bottle is full. Nothing about water’s nature changed. Her situation and the use of the next cup changed.

Questions

Choose an answer. The explanation appears after you answer.

  1. Question 1 of 4

    What is the main idea of the passage?

  2. Question 2 of 4

    Why would the hiker likely pay less for another cup after filling her bottle?

  3. Question 3 of 4

    What does “marginal” mean in “marginal value”?

  4. Question 4 of 4

    What does the hiker use the second cup to do?

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