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Economics Worksheet

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Miscellaneous

 

Written by:

Bruce O

 

Date added:

September 27, 2014

 

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A

 

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3 / 733

 

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"Marginal analysis refers to the comparison of marginal benefits and marginal costs" (McConnell & Brue, 2004, pg. 4) When individuals act to satisfy their wants, they behave rationally. Rational behavior is consistent behavior that maximizes an individual's satisfaction. The notion of rational behavior rests on three assumptions: ???First the individual has a preference and can identify, within limits, what he or she wants...
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"Marginal analysis refers to the comparison of marginal benefits and marginal costs" (McConnell & Brue, 2004, pg. 4) When individuals act to satisfy their wants, they behave rationally. Rational behavior is consistent behavior that maximizes an individual's satisfaction. The notion of rational behavior rests on three assumptions: ???First the individual has a preference and can identify, within limits, what he or she wants...
displayed 300 characters

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