Read this article to learn about one of the fundamental terms in economics: marginal analysis. Specifically, understand the concept of marginal benefit and marginal cost and what is meant in economics when we say that individuals make rational choices at the margin. Also, complete the problems in the "Try It" box and check your answers.
- Explain the importance of marginal analysis in economics
- Give examples of marginal cost and marginal benefit
Source: Lumen Learning, https://courses.lumenlearning.com/wmopen-microeconomics/chapter/marginal-analysis/
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