What information is needed to make a decision at the margin?

A. Opportunity costs
B. Cost to produce each unit
C. More than three alternatives
D. Factors of production

Question

What information is needed to make a decision at the margin?

A. Opportunity costs
B. Cost to produce each unit
C. More than three alternatives
D. Factors of production

anonymous · Answer

is it multiple choice or one?

anonymous · Answer

Margin, as it is defined in economics, refers to the utility or value of one additional unit of an item. Depending on the situation, the marginal value of a unit may be very high, very low or anywhere in between. Economics use marginal decision-making to help them analyze many factors, including consumers' rationales, tendencies and market habits.