What is thinking on the margin?
making choices that are based on historical precedents making choices by comparing the additional benefits and additional costs from doing a little bit more of some activity making decisions that are of noneconomic importance making choices that ignore the marginal benefits, but not the marginal costs, of some activity
Thinking on the margin refers to making choices by comparing the additional benefits and additional costs from doing a little bit more of some activity. This concept is fundamental in economics, as it helps individuals and businesses make informed decisions by evaluating the incremental changes rather than considering the total or average effects.