marginaleffektivitet

Marginaleffektivitet, often translated as marginal efficiency, is an economic concept that refers to the additional output or benefit gained from one additional unit of input. This input can be anything from labor and capital to time and resources. The principle of marginal efficiency states that as more units of an input are added, the marginal gain from each subsequent unit tends to decrease. This phenomenon is also known as diminishing marginal returns.

For example, if a farmer plants more seeds on a fixed plot of land, the initial increase in yield per seed might be substantial. However, beyond a certain point, adding more seeds will result in less additional grain per seed because the land, sunlight, and water become increasingly scarce relative to the number of plants. The marginaleffektivitet of planting an additional seed has decreased.

This concept is crucial in various economic decisions. Businesses use it to determine the optimal level of production, deciding how many workers to hire or how much capital to invest. Understanding marginaleffektivitet helps in making cost-benefit analyses, ensuring that resources are allocated where they yield the greatest return. If the cost of an additional unit of input outweighs the marginal benefit it provides, then it is not efficient to add more of that input. The point where marginal benefit equals marginal cost is often considered the optimal point of resource allocation.