(Answered) marginal income has the same meaning as total incomemarginal income has the same meaning as total…

➤ When should I use marginal income instead of total income?
Use marginal income when evaluating incremental decisions such as pricing, increasing output, or checking if an extra sale raises profit. Use total income for overall reporting, budgets, and taxes. Compare marginal income to marginal cost to find the profit-maximizing output; use total income to summarize period performance.