Log in or Sign up to track your course progress, gain access to final exams, and get a free certificate of completion!
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