People use _____ to determine how many hours to work, and businesses use _____ to determine how much of their product they are willing to supply to the market.
A) marginal analysis; marginal analysis
B) allocative efficiency; production efficiency
C) production efficiency; marginal analysis
D) marginal analysis; allocative efficiency

Question

Quizplus · Accepted Answer

Both individuals and businesses use marginal analysis to make decisions about labor supply and product supply, respectively. Marginal analysis involves comparing the additional benefits of an action to its additional costs.

People Use _____ to Determine How Many Hours to Work