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I. Marginal analysis can explain why you would always choose to eat Chinese food rather than pizza. II. Marginal analysis can explain the incremental impact of an increase in total cost when one more unit of output is produced.
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Click the links below to view the Student Answer Keys in Microsoft Word format. Answer Key - Chapter 01 (23.0K) Answer Key - Chapter 02 (20.0K) Answer Key - Chapter 03 (44.0K) Answer Key - Chapter 04 (32.0K) Answer Key - Chapter 05 (34.0K) Answer Key - Chapter 06 (30.0K) ...
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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.
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. Marginal cost is
marginal revenue. extra revenue from the sale of one additional unit of output. marginal analysis. decision making that compares the extra costs of doing something to the extra benefits gained. Marginal Analysis Learn with flashcards, games, and more — for free.
