Margins and thinking at the margin
Library of Economics and Liberty, 2011
Abstract
What does it mean to think at the margin? It means to think about your next step forward. The word “marginal” means “additional.” The first glass of lemonade on a hot day quenches your thirst, but the next glass, maybe not so much. If you think at the margin, you are thinking about what the next or additional action means for you.
