Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Constant marginal cost is assumed for model simplification.
The sign of this correction factor is ambiguous and depends on the sign of the marginal risk effect of the input at hand.
An added twist in the model is a productivity shock, which changes the value of marginal product of water for farms.
The marginal price is the charge made for the last cubic meter of water used.
Such information should be made available to a large group of farmers at low marginal cost.
If a good is rationed, price is not marginal utility.
In textbook analyses, utility can be scaled such that the marginal utility of a consumption good is equal to the market price.
Thus, marginal cost pricing preserves efficiency in the irrigation sector but by drawing on public funds may contribute to inefficiency in other sectors.
Parking, punctuality, and quality are dummy variables, so the reported elasticities and marginal effects are only approximations.
A more extensive analysis would have to be conducted to get better estimates of the marginal cost of each activity.
A much better alternative seems to be to raise (marginal, and to some degree average) water prices, and instead limit rationing.
The optimal stringency of a policy instrument depends on the marginal welfare effects rather than the total welfare effects.
See all examples of marginal
These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.