1.6 Marginal Analysis 🧐

🎯 Learning Targets

• Define the key assumptions of consumer choice theory
• Explain how a rational consumer’s decision making involves the use of marginal benefits and marginal costs
• Calculate how a rational consumer’s decision making involves the use of marginal benefits and marginal costs
• Define marginal analysis and related terms
• Explain a decision using marginal analysis

⏰ What We Did

• Explored consumer-choice theory
• Identified the difference between marginal utility and marginal benefit
• Summarized how and why economists use marginal analysis

⚙️ Resources

• 1.6 Marginal Analysis
• 1.6 Marginal Analysis Problem Set

📖 Corresponding Reading

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💻 Homework

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