| 单词 | marginal |
| 释义 | marginal The effect per unit of a small change in any variable. Marginal cost is the addition to total cost from a small increase in output, per unit of the increase. Marginal revenue is the effect on total revenue of a small increase in sales, per unit of the increase, allowing for any effect of quantity sold on price. The marginal social cost of any activity is the effect of a small increase in the activity on total social costs, per unit of the increase, including any externality as well as direct costs to the producer. Similarly, marginal social benefit is the effect on total social benefit of a small increase in an activity, per unit of the increase, including externalities as well as direct benefits to the producer and purchaser. Marginal land, or land on the margin of cultivation, is land which would just become worth farming if output prices rose slightly, or would go out of cultivation if prices fell slightly. A marginal firm is one which would just be induced to enter an industry by a small rise in profitability, or would just be induced to leave the industry by a small worsening in market conditions. The marginal rate of substitution between two goods shows the amount of one which would be needed to compensate a consumer for a small reduction in the availability of the other good, per unit of the reduction. The criteria for efficiency in economic activity are often stated in terms of equality between marginal rates of substitution for consumers and marginal rates of transformation for producers. Marginal equality is only the correct criterion when quantities can vary in both directions. If the quantity of one good is already zero, its output cannot be reduced, and the efficiency condition is transformed into an inequality. It should also be stressed that marginal equalities define only local optima; with increasing returns, local optima may not be global ones. Marginal conditions are appropriate only when dealing with continuous variables. Some economic variables, such as the number of firms in an industry, cannot vary continuously but are subject to integer constraint. |
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