In Economics, marginal decision making helps to analyze various factors. When you make a decision at the margin, you evaluate rationality in an attempt to come to the best choice.
whether or not to go on vacation
opportunity cost
A) wheather of not to hire 100 new workers
Thinking about the costs and benefits of making changes in behavior. when you make a decision, most people think on the margin, meaning they think about the positive and negative benefits of making one decision rather than another.
In Economics, marginal decision making helps to analyze various factors. When you make a decision at the margin, you evaluate rationality in an attempt to come to the best choice.
investment, financial markets, business accounting
whether or not to go on vacation
opportunity cost
A) wheather of not to hire 100 new workers
A) wheather of not to hire 100 new workers
Thinking about the costs and benefits of making changes in behavior. when you make a decision, most people think on the margin, meaning they think about the positive and negative benefits of making one decision rather than another.
whether to spend your two-week vacation on the shore or in town
Follow your heart, it will lead you to the right decision
Making a decision at the margin is possible only in situations when the available alternatives can be divided into increments.
opportunity cost
the margin of the continental