Material Detail
Making Rational Decisions in Economics - The Role of Sunk and Marginal Costs
This JiTT exercise uses a real-life example to pose a question to students about the nature of "rationality" as typically used in economics. In this case, the focus is on fixed vs. marginal costs and the use of marginal analysis by economists to make "rational" economic decisions.
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More about this material
- Material Type:
- Drill and Practice
- Date Added to MERLOT:
- December 29, 2022
- Date Modified in MERLOT:
- January 2, 2023
- Author:
-
Scott Simkins,
North Carolina Agricultural and Technical State University
- Submitter:
-
Cathy Swift
- Primary Audience:
- College General Ed, College Lower Division
- Technical Format:
- Website
- Mobile Compatibility:
- Not specified at this time
- Language:
- English
- Cost Involved:
- No
- Source Code Available:
- Unknown
- Creative Commons:
-
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International
