{"id":93,"date":"2020-03-24T04:51:23","date_gmt":"2020-03-24T04:51:23","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/outcome-marginal-analysis\/"},"modified":"2023-05-24T19:32:24","modified_gmt":"2023-05-24T19:32:24","slug":"outcome-marginal-analysis","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/outcome-marginal-analysis\/","title":{"raw":"Outcome: Marginal Analysis","rendered":"Outcome: Marginal Analysis"},"content":{"raw":"<h2>What you'll learn to do: define marginal analysis<\/h2>\nEconomists recognize that very few&nbsp;choices in the real world are \"all or nothing.\" Most of the time, people have the choice&nbsp;to do a little more or a little less of something: Should you eat one more muffin? Should you study economics for another&nbsp;hour? Should you spend a little less money on gas? Economists use the word <em>marginal<\/em>&nbsp;to mean \"additional\" or \"extra,\" and they use the term <em>marginal analysis<\/em>&nbsp;to describe how people make choices by comparing the&nbsp;benefits and costs of doing a bit more or a bit less.\n\nThe specific things you\u2019ll learn in this section include the following:\n<ul>\n \t<li>Define marginal cost<\/li>\n \t<li>Define marginal benefit<\/li>\n<\/ul>\n<h3>Learning Activities<\/h3>\nThe learning activities for this section include the following:\n<ul>\n \t<li>Reading: Marginal Analysis<\/li>\n<\/ul>","rendered":"<h2>What you&#8217;ll learn to do: define marginal analysis<\/h2>\n<p>Economists recognize that very few&nbsp;choices in the real world are &#8220;all or nothing.&#8221; Most of the time, people have the choice&nbsp;to do a little more or a little less of something: Should you eat one more muffin? Should you study economics for another&nbsp;hour? Should you spend a little less money on gas? Economists use the word <em>marginal<\/em>&nbsp;to mean &#8220;additional&#8221; or &#8220;extra,&#8221; and they use the term <em>marginal analysis<\/em>&nbsp;to describe how people make choices by comparing the&nbsp;benefits and costs of doing a bit more or a bit less.<\/p>\n<p>The specific things you\u2019ll learn in this section include the following:<\/p>\n<ul>\n<li>Define marginal cost<\/li>\n<li>Define marginal benefit<\/li>\n<\/ul>\n<h3>Learning Activities<\/h3>\n<p>The learning activities for this section include the following:<\/p>\n<ul>\n<li>Reading: Marginal Analysis<\/li>\n<\/ul>\n","protected":false},"author":32,"menu_order":34,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-93","chapter","type-chapter","status-publish","hentry"],"part":25,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/93","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/93\/revisions"}],"predecessor-version":[{"id":94,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/93\/revisions\/94"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/25"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/93\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=93"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=93"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=93"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}