In What Way May Marginal Analysis Be Useful in Helping

question 13

Multiple Choice

In what way may marginal analysis be useful in helping to make economic choices?  

• A) It eliminates impractical or irrelevant information. 
• B) It eliminates incorrect decisions and bad choices. 
• C) It involves comparing the additional costs and additional benefits of an activity prior to making a decision. 
• D) It involves examining only the total costs and total benefits of an activity prior to making a decision.

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Definitions:

Three-Dimensional Model

A theoretical framework that assesses a phenomenon along three different axes or dimensions to provide a comprehensive evaluation.

Basic Temperament

An individual's inherent predisposition to react to situations in a certain way, which is typically evident in early childhood and believed to be partly genetic.

Sociability

The quality of being sociable, friendly, or willing to engage in social interactions.