The marginal analysis is to make the decision of the next unit of year. It compares the cost and benefit of something and then chose the best way that could achieve the best benefit. People chose the good decision in order to achieve benefit after they have a discreet and examination on the cost and benefit of their next unit of year.
The cost of one more year of education could be traveling around the world and getting a job that is paid. However, the benefit of getting one more year of college could be the increase in income. College graduates tend to earn more than non-college graduates. It is not possible for college graduates earn 1 million more in their working life than non-graduates. Some great people like Bill Gates, the former richest guy in the world on the Forbes List. He dropped out from Harvard University and created Microsoft. He left the college because he thought he could earn more money if he dropped out. The cost of one more year in college exceeded the benefit. Therefore, Bill Gates dropped out from college and started a company which let him earned a lot of money. Some people left college after one year because, just like that of Bill Gates, they feel that the cost of staying one more year in college has surpass the benefit. Furthermore, they think that benefit of dropping out is higher than the cost.
My sister and brothers tell me the tuition of college in US is getting higher and higher. However, they also believe that the to diploma of a US college will help me to earn more money when i enter the job market. I will continue to devote myself to good education and college even though I received the information from the video. The benefit of complete a college is higher than dropping out at the first or second year.
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