Example-implicitly-weighed marginal costs-marginal benefits
Cite three example of recent decisions which you made in which you, at least implicitly, weighed marginal costs & marginal benefits.
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It may comprise the decision to come to class, to skip breakfast to obtain a few extra minutes of sleep, to attend college or university, or to make a purchase. Marginal benefits of attending class may comprise the acquisition of knowledge, participation in discussion, and better preparation for an upcoming assessment. Marginal costs may comprise lost opportunities for meals, sleep or studying for other classes. In evaluating the discussion of marginal benefits & marginal costs, be careful to watch for sunk costs offered as a rationale for marginal decisions.
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Describe the benefits of the JIT inventory control system? The just-in-time (JIT) inventory control system lowers inventory carrying costs & tends to raise quality.
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Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
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