Why Economics Uses Marginal Analysis
Question:
Economics involves marginal analysis because
A. most decisions involve changes from the present situation.
B. marginal costs always exceed marginal benefits.
C. much economic behavior is irrational.
D. marginal benefits always exceed marginal costs.
Answer:
A. most decisions involve changes from the present situation.
Explanation: Economics involves marginal analysis because most decisions people make involve considering changes from the current situation. Marginal analysis helps in evaluating the additional benefits and costs associated with making incremental changes, thus guiding individuals and businesses in making more informed decisions.
- Understanding the Importance of Environmental Science
- Career Advancement for Wildland Firefighter GS 3 Explained
- Opponent Process Theory How We Perceive Color in Opposites
- Results of the Great Uprising of 1857 and Its Impact on India
- The Frequency Theory of Hearing and Pitch Perception
- Why Plant Cells Don't Lysing The Role of the Cell Wall
- Understanding the Absolute Threshold in Sensory Perception
- Understanding Habituation: Key Concept in Psychology
- Organelles Found in Cytoplasm and Endoplasmic Reticulum
- Structure of a human skin cell differs from muscle cell
- Function of epithelial tissue in the human stomach
- As part of the consent process, the federal regulations require
- A waiver of the requirement for documentation of informed consent
- The primary purpose of a Certificate of Confidentiality is to
- Additional protections researchers can include in their practice
AssignmentHelpAid
0
