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Economics 101: The Rule Of Economic Decision | SterlingTerrell.net

Economics 101: The Rule Of Economic Decision


What is the rule of economic decision?

The Rule Of Economic Decision is the rule of economics that makes decisions based on marginal costs and marginal benefits.

Specifically:

If marginal benefits are greater than marginal costs - you should say "Yes" to your decision.

If marginal costs are greater than marginal benefits - you should say "No" to your decision.