Diminishing marginal returns
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Diminishing marginal returns

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    Diminishing marginal returns Diminishing marginal returns Presentation Transcript

    • Bellringer 1. What is your opportunity cost of being here right now? 2. What part of the day do you feel like you have the most energy? 3. What part of the day do you feel like you have the least energy? 4. What do you think explains your answer to #2?
    • Economists “think at the margin” • “margin” means additional • In this case the margin was?
    • Eventually…
    • • • • • “the margin” Additional unit of production Law of Diminishing Marginal Returns Eventually marginal benefits will decline Burritos
    • Application to students? School day? Study time # of students in class? # of college credits
    • Application to driving
    • Application to BF/GF
    • Application to stuff you buy
    • Application to partiers
    • Application to business?
    • On your BR #4 Describe an example of diminishing returns from your life.