Economists use the term "marginal" to describe costs and benefits
A)that are minimal and hardly worth noting.
B)that are incremental and thus relevant to decision making.
C)that are noteworthy but not the most important.
D)whose importance can be minimized through hard work.
E)none of the above.

Question

Quizplus · Accepted Answer

Economists use the term "marginal" to describe incremental costs and benefits that are relevant to decision making because they represent the additional cost or benefit from producing or consuming one more unit of a good or service. These marginal costs and benefits are essential for decision making in economics.

Economists Use the Term "Marginal" to Describe Costs and Benefits