1. ECO254-1102B-04 Introduction to MicroeconomicsPhase 1 Individual Project (Defining Marginal Analysis)Sabrina MergenthalerColorado Technical University Professor Jeffrey Leeson

2. WHAT IS MARGINAL ANALYSIS? 3. Micro- Marginal Cost- additional cost incurred by providing one more unit of service or product.Marginal Benefit- the additionalbenefit of making or sellingadditional service or product. Jeffre y Leeso nMarginal MarginalBenefit Cost 4. AffectingGoods and ServicesEfficiencyEquityMarket economy 5. EfficiencySeveral types of efficiencyStatic EfficiencyProductive EfficiencyAllocative EfficiencyDynamic EfficiencySocial EfficiencyTechnical EfficiencyPareto Efficiency(Economic Efficiency, D.N.K) 6. CreatingEquity What is Equity? 7. Our Market Economy Driven by Centrally Planned Economy Government driven Mixed Economy Consumers/Firms Government Market Economy Consumers/Firms 8. Marginal Analysis: An exampleMarginal Benefits ofbecoming a licensed Marginal costs ofContractor becoming a licensed Can charge more for contractor services$250 exam fee Can become certified$75 yearly reinstatement Better reputation fee Become more of an asset Time spent preparing forto your company testRisk of losing license 9. Marginal Analysis conclusion 10. ReferencesEconomic Efficiency. (D.N.K.). Retrieved from http://www.economicshelp.org/microessays/costs/efficiency.htmlEconomic Efficiency. (2011). Retrieved from http://tutor2u.net/economics/content/topics/competition/efficiency.htmMarginal Analysis. (2011). AmosWEB Encyclonomic WEB*pedia. Retrieved from http://www.AmosWEB.comMoffatt, Mike. (D.N.K.). What does Economic Efficiency mean? Retrieved from http://economics.about.com/od/productivity/f/economic_eff.htmUS Market Economy. (D.N.K.). Retrieved from http://www.economywatch.com/market-economy/us-market-economy.html