Question

write a response explain it in terms of marginal benefits and marginal costs. In the summer time I decided to start a part time job and at the beginning it was all good. I was making a good amount of extra money and I got a lot of good benefits from it; but when time started going by I was able to tell that it was taking a lot of my time and on top of that I got promoted on my primary job. When comparing marginal benefits and marginal costs would have been inappropriate? Personally, when starting a divorce process and comparing both costs is inappropriate because even that at the end the main focus for the parties is to be happy a lot of things have been lost in the process so trying to use a marginal cost and benefit in this specific case I will consider inappropriate.

Answer 1

Here it would be more appropriate to consider opportunity cost rather than marginal cost . The opportunity cost of taking up the new part time job would be the time devoted that could have been utilized in other ways . Also the less money from primary job .

The benefits are the increased income from the new part time job . To consider the new job we need to see the new salary after promotion from the primary job . If the benefits exceed the costs then that option should be considered .