Ask Question
Social StudiesSocial Studies
25 August, 23:32

Compare Marginal Costs & Marginal benefits in a choice you made.

+5
Answers (1)
  1. 25 August, 23:58
    0
    Marginal Costs & Marginal benefits in a choice you made.

    Assume that I want to buy an ornament for hands. I spend $500 for purchasing an ornament. When I was supposed to see another I wish to buy that. But spending again for the ornaments also not a good idea. I am also not willing in spending $500 for the ornament. So, I decided to go for an ornament that costed only $250. No, my marginal benefit get decreased from $500 to $250. When I decided to go fro the second one or more than one of same good my marginal benefits decrease.

    Marginal cost is something that changes in a smaller range in the production of one additional unit. For example I decide to manufacture 500 pens. i need raw materials for the production and a building and machine for production. The change in the cost or expenses that happens when I decide to produce 600 pens is the marginal cost.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Compare Marginal Costs & Marginal benefits in a choice you made. ...” in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which data collection method is not effective for behavior?
Answers (1)
What is meant by the Domino Theory?
Answers (2)
Why did the United States play a MAJOR role in rebuilding Japan after World War II? A) to turn an enemy into an ally and to create a more democratic Japan B) to form an alliance with Japan that would work against communist China C) to place
Answers (1)
What factor prevents minor parties from having greater influence in american politics?
Answers (1)
Mr. selkie's classroom includes students whose desks face the front of the classroom, arranged in rows. the students are relatively passive-listening to mr. selkie, who is the sole authority for knowledge, rules, and decision making. mr.
Answers (1)
New Questions in Social Studies
Psychologist shelley taylor proposed that we can reduce stress and improve our own health by connecting with and providing support to others. the term she used for this approach is
Answers (1)
What is the main purpose of the Bill of Rights?
Answers (1)
What's the study of orgins of past human life called?
Answers (1)
What system of government does the central government have all the power?
Answers (2)
Carlos, in his twenties, is trying to decide on a career. carlos is in the life stage called:
Answers (1)
Home » Social Studies » Compare Marginal Costs & Marginal benefits in a choice you made.
Sign Up Forgot Password?