What is thinking at the margin?

Thinking at the margin refers to the process of evaluating the benefits and costs of a decision by considering incremental changes or additions to an existing situation, rather than looking at the decision as a whole. It involves analyzing the immediate or incremental effects that a specific decision may have on an outcome. It can be applied in many fields, such as economics, business, and public policy. For example, a company may consider the costs and benefits of hiring an additional employee or producing an extra unit of a product to determine if it is worth it or not. This type of thinking is often used to make informed and rational decisions to optimize outcomes.