Question

Using education as an example, explain using marginal analysis (a.k.a. cost-benefit analysis) why it is possible to "have too much of a good thing"

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Answer 1

Marginal analysis states that what are the additional benefits we get compared to the additional cost that are incurred in a activity.

If we are analyzing education using cost benefit analysis or marginal analysis we will understand it's benefits and cost.

For getting education we have to pay some money which is a cost or an investment for us. After completing our education we will get a job which is a benefit or return for our investment. Education is important for people because it gives us knowledge , ethics ,morals and values which help us to be a better person and also helps us earn money.

It is possible to have too much of good thing because due to education there are many benefits which will help in our.So education got more benefits than the cost we spend on it.

Ex: If we spend some 50000$ for our graduation and after our graduation we may earn a salary of $75000 per annum which means the cost on education is less than the benefit we receive.