Conventional cost-benefit analysis incorporates the normally reasonable assumption that the policy or project under examination is marginal in the sense that it will not significantly change relative ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.

When businesses are planning how much to produce, they must pay close attention to marginal costs and marginal benefits – the incremental changes in costs and benefits that result from an increase in ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Erika Rasure is globally-recognized as ...

Marginal analysis was the heart of early Austrian economics and was quickly adopted into mainstream economics, where it is central to modern microeconomic analysis. Amazingly, many people in business ...

Cost benefit analysis is a strategy used by businesses and individuals to weigh the potential outcome of an action in order to make a decision. One of the main ways people make decisions is by using a ...

Whenever you need to make a business decision, invariably you have to weigh one choice against another. Sometimes, the choice is between Project A and Project B, and sometimes the choice is between ...