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A brief introduction to marginal analysis for the micro-economics principles course

Author

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  • Burkey, Mark L.

Abstract

This brief note provides a simple, yet powerful example of how the marginal cost/marginal benefit principle can be used in everyday life. Using the decision of the optimal choice of speed on the highway, this note was developed for use as one of the first readings in an introductory microeconomics course. It is clear in this demonstration that marginal cost is increasing, while marginal benefit is decreasing, and how the intersection of these two curves shows the optimal choice. In addition, shifts in the curves can easily be demonstrated as an introduction to supply and demand.

Suggested Citation

  • Burkey, Mark L., 2008. "A brief introduction to marginal analysis for the micro-economics principles course," MPRA Paper 36230, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:36230
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    File URL: https://mpra.ub.uni-muenchen.de/36230/1/MPRA_paper_36230.pdf
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    More about this item

    Keywords

    marginal analysis; economic education;

    JEL classification:

    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics

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