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Question
select all that apply.
select all the items involved in marginal analysis.
randomly making a decision
choosing the option that makes you worse off
calculating the marginal cost of a choice
figuring out the marginal benefit of an alternative
Marginal analysis involves comparing marginal costs and marginal benefits. Randomly making a decision and choosing an option that makes one worse off are not part of rational marginal analysis. Marginal analysis is about calculating marginal cost and figuring out marginal benefit to make an optimal decision.
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- calculating the marginal cost of a choice
- figuring out the marginal benefit of an alternative