Marginal or incremental cost - benefit analysis are costs associated with producing an additional unit of product as well as the benefits associated as a result of the additional unit. Marginal analysis is normally used when a company desires to expand (or increase) production so that they determine if the expansion would result with an increase in profit or not.
This is done by first determining the additional cost associated with the activity change and its benefits, then the costs and benefits are then compared.
The working conditions of the employees matters a lot when it comes to determine the wages of the employees. There is always a discrimination made based on the working condition, the level of education received by the employees and many more.
Thus the higher wages received by the college graduates is mainly due to the working condition and the responsibilities that they are going take while working in an organization when compared to their sub-ordinates.
A level term policy is meant to insure a certain benefit for a specific period of time. During this time, the premium is also fixed (level) which means that it will not change as time passes. A level term policy is adjusted only after it has expired and it is generally adapted upwards since the age of the insured person increased as well as the possibility of death.