econ marginal analysis

A primary difference between macroeconomics and microeconomics is

Microeconomics examines individual markets while macroeconomics examines the economy as a whole.

Which of the following best describes the goal of marginal analysis when we set marginal benefit equal to marginal​ cost?

The goal is to maximize benefits less costs.

If the marginal benefit of getting a college degree rises and the marginal cost is​ constant, rational people will

attend college in greater numbers.

Marginal benefit generally​ __________ with an increase in quantity and marginal cost typically​ ___________ with an increase in quantity.

decreases; increases

Economists use the word marginal to mean an extra or additional benefit or cost of a decision. An optimal decision occurs when

marginal benefit equals marginal cost.