Arrange the following steps in the correct order to effectively apply marginal analysis in decision-making regarding resource allocation: A) Evaluate the marginal costs associated with the decision B) Determine the optimal consumption bundle C) Analyze the marginal benefits gained from the decision D) Compare marginal benefits and marginal costs to identify the point of equilibrium

To effectively apply marginal analysis in decision-making about resource allocation, you should first analyze the marginal benefits gained from the decision. This means looking at how much extra benefit you receive from using one more unit of a resource. Next, you evaluate the marginal costs associated with the decision, which helps you understand how much it will cost to use that additional resource. After that, you compare the marginal benefits and marginal costs to identify the point of equilibrium, where the benefits equal the costs. Finally, you determine the optimal consumption bundle, which is the best combination of resources that maximizes your benefits without exceeding your costs.