Suppose the relationship between your study time and your grade on a History midterm is given by the following table: If you study for Your grade will be 4 hours 80 5 hours 90 6 hours 93 What is the "marginal grade improvement (MGI)" of the 5th hour of studying? What is the "marginal grade improvement (MGI)" of the 6th hour of studying? Why might the MGI be diminishing?
Suppose the relationship between your study time and your grade on a History midterm is given by the following table:
If you study for Your grade will be
4 hours 80
5 hours 90
6 hours 93
What is the "marginal grade improvement (MGI)" of the 5th hour of studying? What is the "marginal grade improvement (MGI)" of the 6th hour of studying? Why might the MGI be diminishing?
Marginal analysis is an assessment of the additional advantages of an operation relative to the additional unit generated by the same activity. For example, Marginal refers to the emphasis on the expense or gain of the next unit or individual, the cost of making one more widget, or the profit gained by hiring one more employee, an additional gain of working for more hours, etc.
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