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25 October, 14:55

What is the correct definition of marginal analysis

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  1. 25 October, 14:58
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    The process of indentifying the benefits and costs of different alternatives by examining the incremental effect on total revenue and total cost causes by a very small (just one unit) change in the output or input of each alternative. Marginal analysis supports decision-making based on marginal or incremental changes to resources instead of one based on total or averages.
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