Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You've read about the idea of thinking at the margin. This refers to thinking about the small changes to your benefit and cost from doing

You've read about the idea ofthinking at the margin.This refers to thinking about the small changes to your benefit and cost from doing a little bit more of something. Thinking at the margin is in contrast to all-or-nothing decision making. For example, in this class, students often don't decide to take the class and then do every last optional activity, watch every single video, etc. Students instead tend to think at the margin: will the marginal benefit (to my grade) of reading this next section of the reading assignment compare to my marginal cost (time spent)?

  • Think of another example where you thought at the margin about something you wanted to do.
  • Did thinking at the margin help you consider new information? Explain.
  • Did thinking at the margin result in better decision making? Explain this as well.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics And The Environment A Materials Balance Approach

Authors: Allen V Kneese, Robert U Ayres, Ralph C D'Arge

1st Edition

1317402251, 9781317402251

More Books

Students also viewed these Economics questions

Question

14. Now reconcile what you answered to problem 15 with problem 13.

Answered: 1 week ago