Question

Harry is trying to take one more class this semester. He is weighing the marginal benefit of taking one more class to the marginal cost of taking one more class. Which economic concept is most closely related to Harry's decision-making process?

Answer 1

The correct answer is: marginal analysis

Step-by-step explanation:

Marginal analysis allows individuals to maximize their utility by weighing marginal benefits against marginal costs. Doing this analysis prior to decision making leads to optimal decisions. In economic theory, whenever marginal benefit equals or exceeds marginal costs, a rational decision is being made.