What Is the Best Example of a Marginal Change

question 156

Multiple Choice

What is the best example of a marginal change?

• A) After graduating from university, Neville's income increases from $1000 per month to $1,100 per month.
• B) Jadelyn completes the six-month probationary period at her job and is now paid $11.2 |5 per hour instead of $11.00.
• C) Housing prices in an area increase by 50% when a new freeway is built in a small town.
• D) A hard freeze wipes out half of the potato crop in Prince Edward Island and the price of potatoes doubles.

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Definitions:

Active Steps

Measures or actions taken with deliberate effort and intention toward achieving a specific goal.

Fraudulent Misrepresentation

Involves knowingly making a false statement with the intent to deceive, leading another party to enter into a contract.

Mutual Mistake

A misunderstanding among all parties involved in a contract, making the contract potentially voidable.

Basic Assumption

An underlying assumption that is accepted as true without proof as the basis for argument or action.