Question

What is thinking on the margin? making decisions that are of noneconomic importance making choices by comparing the additional benefits and additional costs from doing a little bit more of some activity making choices that ignore the marginal benefits, but not the marginal costs, of some activity making choices that are based on historical precedents

Answer 1

Answer:

making choices by comparing the additional benefits and additional costs from doing a little bit more of some activity

Explanation:

It means thinking about the additional worth or value of resources. Thinking in the margin is embedded in the idea that people make decisions based on comparison and not without intelligence. Thinking on the margins helps us to decide if something is worth engaging in, for example business, an activity, etc.

Answer 2

Answer:

The correct answer is the option B: Making choices by comparing the additional benefits and additional costs from doing a little bit more of some activity.

Explanation:

To begin with, the concept of ''marginal'' in the field of economics refers to the situation that involves the last part of something that is added basically, therefore that thinking on the margin means to make choices by comparing the additional benefits and costs from doing a little bit more of some activity at the last moment and to see the results that those extra benefits or costs will have in the organization.