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.
Answer to Try It
- One reason might be that too much studying in one night results in the student not getting enough rest, and so causes diminishing marginal learning.