QQuestionBusiness Management
QuestionBusiness Management
"Marginal thinking is best demonstrated by:
A. Choosing to spend one more hour studying economics because you think the improvement in your score on the next quiz will be worth the sacrifice of time.
B. Measuring all of the costs of a meal against all of the benefits when deciding whether to order a second milkshake.
C. Acquiring the information relevant to a choice before making that choice.
D. Deciding to never purchase a coat made with animal skins or furs."
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Answer
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Step 1Let's solve this problem step by step:
Step 2: Understand the concept of marginal thinking
Marginal thinking involves analyzing the additional (marginal) benefits and costs of a specific decision, focusing on the incremental impact of one more unit or one more hour of an activity.
Final Answer
A is the correct representation of marginal thinking, as it demonstrates analyzing the additional benefit of one more hour of study against its opportunity cost.
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