- -Optimal decisions are made at the margin, meaning, people go through various stages of decision making prior to making the bigger decision, not everything is "all or nothing".
What are you doing when you make a decision at the margin?
Answer and Explanation:
To "think at the margin" means you make decisions based on the marginal changes.
This is as opposed to looking at averages.
For example, when you decide how many slices of pizza to eat, you look at the marginal benefit and cost of each slice..
What does it mean by making the margin?
Margin is the difference between what it costs a business to buy or produce something and what they sell for it.
So to hit margin simply means to profit.
Meaning of sentence: We don't make money enough to maker our sales more than our costs..
What does it mean if a person makes a decision at the margin?
Deciding by thinking at the margin is just like making any other decision.
One must compare the opportunity costs and the benefits—what you will sacrifice and what you will gain.
Once the opportunity cost outweighs the benefits, no more units should be added..
What does it mean to make choices on the margins?
Economists argue that most choices are made “at the margin.” The margin is the current level of an activity.
Think of it as the edge from which a choice is to be made.
A choice at the margin is a decision to do a little more or a little less of something..
What does it mean when economic decisions are made on the margin?
According to this theory, individuals make economic decisions "on the margin." That is, value is determined by how much additional utility an extra unit of a good or service provides.
It would be difficult to overstate how important this concept is to contemporary economic understanding..
What does on the margins mean?
To be on the margins of a society, group, or activity means to be among the least typical or least important parts of it.
Students have played an important role in the past, but for the moment, they're on the margins. 6.
See also profit margin..
What is decision-making on the margin involved?
Thinking at the margin means to let the past go and to think forward to the next hour, day, year, or dollar that you expend in time or money.
What's better for you now or in the next few minutes? If you think at the margin, you are thinking ahead..
- Economists say that individuals make decisions at the margin.
This means, individual decisions are made based on marginal costs and marginal benefits. - To be on the margins of a society, group, or activity means to be among the least typical or least important parts of it.
Students have played an important role in the past, but for the moment, they're on the margins. 6.
See also profit margin.
