The marginal principle means:
A)people will maximize their income or profits or satisfactions by counting only marginal benefits of a decision.
B)people will maximize their income or profits or satisfactions by counting the total benefits of a decision.
C)people will maximize their income or profits or satisfactions by counting none of the benefits of a decision.
D)people will maximize their income or profits or satisfactions by counting the negative aspects of a decision.
E)none of the above.

Question

Quizplus · Accepted Answer

The marginal principle means that people will make decisions based on the marginal benefits of that decision. In other words, they will take into consideration the additional or incremental benefits that come from making that decision, rather than just looking at the total benefits or ignoring the benefits altogether. This principle is a key concept in economics and is used to help individuals and businesses make decisions about allocating resources and making investments.

The Marginal Principle Means