A type of cost-benefit decision making that compares the extra benefits to the extra costs of an action
Rational choice
Economic theory makes much use of marginal concepts. Marginal cost, marginal revenue, marginal rate of substitution, marginal utility, marginal product, and marginal propensity to consume are a few examples. Marginal means on the margin and refers to what happens with a small change from the present position. It is the concept of economic choices to make small changes rather than large-scale adjustments. Marginal analysis is the key principle of profit-maximization in firms and utility maximization among consumers.
See: Alfred Marshall.
Marginal analysis is used primarily in the technological field to determine what technologies should be created and what would be a fair price for them. It measures data and numbers for technology developers.
Economic perspective: a viewpoint that envisions individuals and institutions making rational decisions by comparing the marginal benefits and marginal costs associated with their actions
Rational choice
Economic theory makes much use of marginal concepts. Marginal cost, marginal revenue, marginal rate of substitution, marginal utility, marginal product, and marginal propensity to consume are a few examples. Marginal means on the margin and refers to what happens with a small change from the present position. It is the concept of economic choices to make small changes rather than large-scale adjustments. Marginal analysis is the key principle of profit-maximization in firms and utility maximization among consumers.
See: Alfred Marshall.
Marginal analysis is used primarily in the technological field to determine what technologies should be created and what would be a fair price for them. It measures data and numbers for technology developers.
Economic perspective: a viewpoint that envisions individuals and institutions making rational decisions by comparing the marginal benefits and marginal costs associated with their actions
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CVP stands for Cost-Volume-Profit.
Product information
Marginal analysis...
Marginal analysis...
Marginal analysis would allow the company to identify how much more money they would have to make in order to afford another employee. It would help them figure out if hiring a new worker is the best course of action.