Marginalism Is

question 201

Multiple Choice

Marginalism is

• A) the best alternative that we forgo when making a decision.
• B) the study of how societies choose to use scarce resources.
• C) a market situation in which profit opportunities are eliminated almost instantaneously.
• D) the process of analyzing the additional costs or benefits arising from a decision.

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Definitions:

Trichromatic Theory

A theory of color vision proposing that the human eye has three types of receptors with different sensitivities to light wavelengths, responsible for the perception of color.

Cones

Cones are photoreceptor cells in the retina of the eye responsible for color vision and functioning best in relatively bright light.

Retina

A layer of cells located at the back of the eye, responsible for converting light into neural signals that can be processed by the brain to produce visual images.

Cones

Photoreceptor cells in the retina of the eye responsible for color vision and functioning best in relatively bright light.