What does the word "marginal" mean in economics? What is a marginal benefit? What is a marginal cost? What is marginal analysis?
What will be an ideal response?
In economics, the word "marginal" means "extra" or "additional." Marginal benefit is the additional benefit received from continuing with an activity. Marginal cost is the additional cost associated with continuing with an activity. Marginal analysis involves comparing marginal benefits and marginal costs.
Economics
You might also like to view...
In an economy, the portion of household spending that occurs independent of household income is known as
A) autonomous consumption. B) dissavings. C) the marginal propensity to consume. D) the consumption function.
Economics
If total utility is unchanged, then marginal utility is
A. negative. B. increasing. C. positive. D. zero.
Economics