Marginal Analysis
You may find it useful to print out the guided notes to fill in while watching the video.
In this section we will revisit the idea of marginal analysis and apply what we have learned since we first learned of this idea in chapter 1.
Further examples to apply what we have learned about Marginal Analysis.
At the end of this section you should be able to answer the following questions:
- What does it mean to evaluate an economic function on the margin?
- How is our method of approximation different for economic examples, than from other functions?
- How are the three derivative functions informing us about production?
Check Your Understanding
You should try these problems before reviewing the solutions to
to these non-graded practice problems.