Online College Courses for Credit

Chapter 9 Making Decisions

Chapter 9 Making Decisions

Author: Matthew Lonn

Students will examine the concept of Marginal Analysis and be able to apply it to gain a better understanding of how consumers and producers make decisions.

See More
Fast, Free College Credit

Developing Effective Teams

Let's Ride
*No strings attached. This college course is 100% free and is worth 1 semester credit.

29 Sophia partners guarantee credit transfer.

311 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 27 of Sophia’s online courses. Many different colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.


Questions you should be able to answer after the lesson.

1. Be able to explain the difference between implicit and explicit costs.

2. Describe the difference between accounting profit and economic profit.

3. Use the concept of Marginal Analysis to figure out the optimal quantity of a good or service that will be produced/purchased.

Chapter 9 Notes

Marginal Analysis Video

Source: You Tube