A marginal change is a a. change that involves little, if anything, that is important. b. large, significant adjustment. c. change for the worse, and so it is usually a short-term change. d. small, incremental adjustment.

Question

Business

Donavan

26 November, 03:31

A marginal change is a a. change that involves little, if anything, that is important. b. large, significant adjustment. c. change for the worse, and so it is usually a short-term change. d. small, incremental adjustment.

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Answers (2)

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Phoenix Lynch · Answer 1

The correct answer is option d.

Explanation:

In economics marginal change refers to a small incremental change in variables. For instance, marginal cost means change in total cost due to producing an additional unit of output. Similarly, marginal revenue means an increase in total revenue because of producing an additional unit of output.

Marginal profit or benefit is an increase in profit because of an increase in quantity. The marginal product of labor is the increase in the total product due to hiring an additional worker.

Kayden Gonzales · Answer 2

The correct answer to the following question is option D) a small, incremental adjustment.

Explanation:

The term marginal change is usually used to represent small incremental adjustments, which are made in an existing plan of action. This kind of such small change usually doesn't have a huge impact on the totals in the terms of macroeconomics, but still many people use margins in making best decisions. So therefore the correct option for the above question would be D).