Question

What is the difference between marginalism and incrementalism?
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Answer 1

Answer:

●Hi... here is your answer ●

Explanation:

Marginal cost refers to the change in total cost resulting from producing an additional unit of output.

Incremental cost refers to total additional cost associated with the decision to expand output or to add a new variety of product etc.

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Answer 2

Explanation:

Marginal analysis :

marginal analysis is an analysis of additional benefits based on an activity in comparison to additional costs incurred by the same activity

Incremental analysis :

incremental analysis is a technique used to determine the true cost among alternatives in a business

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