In economics, what does "the margin" mean? What is "thinking at the margin"?
2007-12-30 07:36:21 · 4 answers · asked by Anonymous in Social Science ➔ Economics
People make decision based on comparisons and choose what is just a little bit better. For example if you like both hot dogs and ice cream cones but can afford only 3 things you will buy one of each, but the decision of which to buy for your third item will be made at the margin or which you like just a little better.. When firms decide to hire one more worker it is also a decision at the margin based on whether it will produce a small increase or decrease in profitability.
2007-12-30 08:17:58 · answer #1 · answered by meg 7 · 8⤊ 4⤋
Thinking At The Margin
2016-10-04 04:45:12 · answer #2 · answered by gavilanes 4 · 0⤊ 0⤋
Thinking at the margin is making incremental adjustments to a plan of action. It goes hand in hand, actually, with ignoring sunk cost. In an example that I learned from an airline was about to takeoff with some empty seats. The question was: how much should they charge fir a seat? The answers, non-intuitively, was to sell the ticket for ANYTHING = to or above marginal cost (this means the cost of the bag of peanuts and can of soda). Non-intuitively, the airline SHOULD accept 20 dollars, maybe even less for the ticket because otherwise, they get nothing for that seat.
2007-12-30 10:19:01 · answer #3 · answered by Anonymous · 1⤊ 2⤋
For the best answers, search on this site https://shorturl.im/h0MgT
To me, worship is putting something or someone first in your life. That is the reason people can worship their job, their money, their family, their "belly", etc. And that is reason people can give worship to those other than Jehovah. But when Jehovah is first is your life, it is to him that you pray, that you sing about, that you speak about, that you read about, that you live for, that you long for, that you look forward to listening to and about, that you seek the approval of, that you study about, that you teach about, that you reach out to. He is your other half in a spiritual relationship. And spirituality cannot be complete without that other half. The definition of worship is multi-faceted, as are the expressions of worship. We speak of "worshiping in many ways". And that is correct. I don't mean all forms of worship are acceptable. But that our worship takes on different facets or expressions. We can't sing and study at the same time. But both are worship. We can't study and pray at the same time. But both are worship. There is more, but I will stop here.
2016-03-28 03:37:21 · answer #4 · answered by Anonymous · 1⤊ 0⤋
This Site Might Help You.
RE:
"At the margin" - What does it mean?
In economics, what does "the margin" mean? What is "thinking at the margin"?
2015-08-30 00:10:57 · answer #5 · answered by Corty 1 · 0⤊ 1⤋
margin
2016-01-27 05:45:31 · answer #6 · answered by ? 4 · 0⤊ 0⤋
It is Economist speak for guessing - well beyond their usual vanilla "daily horoscope" stuff
2007-12-30 07:52:02 · answer #7 · answered by Anonymous · 1⤊ 2⤋
margin of what can be the highest or lowest outcome in business, sales, etc.
2007-12-30 10:52:54 · answer #8 · answered by crystal spring 4 · 0⤊ 3⤋
thinking at the limit or highest posible
2007-12-30 07:45:02 · answer #9 · answered by Michael M 2 · 0⤊ 3⤋