Examlex
As a person gains work experience and earns more money, his opportunity cost of attending college will tend to
Marginal Benefits
The additional satisfaction or utility gained by consuming or producing one more unit of a good or service.
Marginal Costs
The rise in overall expenses resulting from the production of an extra unit of a product or service.
Studying Economics
The academic pursuit focused on understanding how individuals, businesses, and governments make choices on allocating scarce resources to satisfy their unlimited wants.
Marginal Benefit
The heightened pleasure or utility a person obtains from the additional consumption of a unit of a good or service.
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