Asked by
Daman Dhaliwal
on Dec 12, 2024
Verified
According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study
A) is positive.
B) outweighs the extra cost.
C) exceeds the benefits of the previous hour of study.
D) will raise your exam score.
Marginal Analysis
An examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.
Extra Benefit
The additional advantage or value received from consuming one more unit of a good or service.
Study Economics
The academic pursuit focused on understanding how goods and services are produced, distributed, and consumed, and how wealth is transferred.
- Uncover the influence of marginal analysis on the mechanics of making economic decisions.
- Achieve an understanding of the significance of marginal benefits and marginal costs in the process of decision-making.
Verified Answer
IR
Learning Objectives
- Uncover the influence of marginal analysis on the mechanics of making economic decisions.
- Achieve an understanding of the significance of marginal benefits and marginal costs in the process of decision-making.