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a. Marginal cost
The increase or decrease in the total cost of a production for purpose of making one additional unit of an item in simple terms it can also mean any additional costs required to produce the next unit
The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service. The following are examples of scenarios that i recently weighted the marginal cost and marginal benefits.
i). I reduced the price of video center so that the number of empty seats will reduce in number and in that same situation , the price of juice sold in the center reduced because more customers paid for the movie .
ii) I weighted the two ..............................continuing, please 5 minutes and i will deliver quality work
I normally go for shopping for mobile phones, and I have to decide whether to buy the one with Game application s or without. Will the marginal cost (how much time i spent using the app playing games ) be greater than the marginal benefit ( the time which i will use for other important activities)?
ii) I needs to decide whether to work full time or part time . The question will be , The marginal benefit be greater than the marginal cost ? The marginal cost is the time i would have spent with my wife and kids. These is a scenario that tries to relate how marginal benefit can be weighed with the marginal cost.
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