comment, in a substantive manner to the following post on marginal analysis in your everyday lives: One
Question:
comment, in a substantive manner to the following post on marginal analysis in your everyday lives:
One of the examples I came up with of marginal analysis is deciding how to spend your money. An example would be to go to the grocery store and get ingredients to make a chicken and rice bowl for lunches during the week of work, or to go out on your lunch break to get chipotle. You want to maximize your money and your time to get all you can out of both. You can end up saving some more time and money meal prepping for the week rather than going out everyday and spending more time and money when you can get some more work done.
A second example could be working part time jobs during the summer. I had a warehouse job in the summer and applied marginal analysis multiple times. On days when the weather was hot and humid, I would think whether or not it was worth it going out and working for 6-8 hours and sweating all day to earn 16 bucks an hour or just going in the next day when it wasn't as hot. The cost of not working would be less money on my check, but I would be out of the heat for the day. The cost of working those days would be being sweaty all day and being so tired and to not want to do anything after the shift.