Αποτελέσματα Αναζήτησης
3. Diminishing marginal rate of substitution necessarily implies that the marginal rate of substitution a. falls as one travels down (eastward) along an indifference curve. b. falls as one travels up (westward) along an indifference curve. c. stays the same as one travels up (westward) along an indifference curve. d.
Answers: 1. Marginal cost in the table is calculated as ∆TC/∆Q, so the marginal cost of the first sandwich is (3.5-2)/1 = 1.5. Marginal revenue is calculated as ∆TR/∆Q, so the marginal revenue from the first sandwich is (8-0)/1 = 8. Notice that marginal revenue is constant and equal to the price of the sandwich in this example.
Instructions: Choose an answer and hit 'next'. You will receive your score and answers at the end. question 1 of 3. What is marginal analysis? Marginal analysis is the difference...
1. Which of the following constitute the fundamental questions every economic system must answer? I. What goods and services will be produced? II. How will they be produced? III. When will they be produced? IV. For whom will they be produced? V. Where will they be produced? I, III, and V only. I, II, and IV only. I, II, and V only.
Marginal analysis is the process of breaking down a decision into a series of ‘yes or no’ decisions. More formally, it is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.
What does marginal analysis mean in economics? Marginal analysis is the analysis of the cost and benefits of the addition of one unit of an input or good. If a good is free, when will a consumer stop wanting to buy the good?
Problem Set: Marginal Analysis. Test your understanding of the learning outcomes in this module by working through the following problems. These problems aren’t graded, but they give you a chance to practice before taking the quiz.
