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3 years ago

Which statements represent the need for marginal analysis when making rational decisions?

1 answer:

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The correct option is "Rick has $6 and wants to buy an ice cream where he can get one scoop for $3, two scoops for $5, or three scoops for $6"

According to marginal analysis, it should be noted that optimal decision making has to do with actions that are taken by individuals, firms or government such that the marginal benefit is greater than the marginal cost.

Based on the options given, the correct option is that "Rick has $6 and wants to buy an ice cream where he can get one scoop for $3, two scoops for $5, or three scoops for $6".

In this case, Rick is analyzing his decisions in order to ensure that the marginal benefit is more then the marginal cost.

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<h3>What is Analytical Intelligence?</h3>

Particularly in educational psychology, analytical intelligence plays a significant role in psychology.
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Robert Sternberg is a well-known psychologist, particularly in the area of psychological characteristics that aid in knowledge acquisition. Three different types of intelligence are included in his triarchic theory of intelligence:

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This is also known as "contextual subtheory." An individual's experience in diverse situations and surroundings helps them develop this part of their intellect. It helps someone adjust their habits and expectations to the circumstances they are in right now.

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