Asked by Mohammad Ragheb on Jun 19, 2024
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A busy professor needs to decide whether to stay in his office to grade papers for another hour or to go home and go to bed.This is an example of:
A) equity versus efficiency.
B) how one person's spending is another person's income.
C) economic incentives.
D) marginal analysis.
Marginal Analysis
An economic method that involves comparing additional benefits and costs incurred from a particular action for decision-making purposes.
Economic Incentives
Financial or material rewards or penalties that influence the behavior of individuals and businesses.
Grade Papers
The process of evaluating and assigning scores to students' written work or exams.
- Understand the significance of marginal analysis in economic decision-making.
Verified Answer
Learning Objectives
- Understand the significance of marginal analysis in economic decision-making.
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