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Marginal analysis and cost-benefit analysis are critical tools in retail management for evaluating alternatives and guiding decision-making processes. Marginal analysis focuses on examining the additional or incremental benefits and costs associated with a particular decision. In a retail context, managers can use marginal analysis to determine the impact of small changes in operations, pricing, inventory, or staffing. For instance, when considering whether to extend store hours, a retailer would compare the additional revenue generated during the extra hours ______ ___ ___ __________ __________ ______ ________ __________ ________.
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