Economists Use the Term "Marginal" to Describe Costs and Benefits

question 2

Multiple Choice

Economists use the term "marginal" to describe costs and benefits

• A)that are minimal and hardly worth noting.
• B)that are incremental and thus relevant to decision making.
• C)that are noteworthy but not the most important.
• D)whose importance can be minimized through hard work.
• E)none of the above.

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Definitions:

Extra Vacation Days

Additional days off from work granted to employees beyond the standard vacation policy, often used as a benefit or reward.

Financial Compensation

Monetary payment provided to employees for their work or services.

Sales Revenue

The income generated from the sale of goods or services before any costs or expenses are subtracted; a critical indicator of a company's financial performance.

Commission

A form of payment to an employee or agent for conducting a transaction or sale, which is usually a percentage of the sale price.