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24 August, 19:04

What is the correct definition of marginal analysis

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  1. 24 August, 22:59
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    The process of indentifying the benefits and costs of different alternatives by examining the incremental effect on total revenue and total cost causes by a very small (just one unit) change in the output or input of each alternative. Marginal analysis supports decision-making based on marginal or incremental changes to resources instead of one based on total or averages.
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