Illustrate what is the relation between marginal benefit, Ask an Expert

Economics

Complete the following table and answer the accompanying questions.

a. At what level of the control variable are net benefits maximized?

b. Illustrate what is the relation between marginal benefit and marginal cost at this level of the control variable?

Control Total Total Net Marginal Marginal Marginal
Variable Benefits cost Benefits Benefit Cost Net Benefit
Q B(Q) C(Q) N(Q) MB(Q) MC(Q) MNB(Q)

100 1200 950 210 40
101 1400 50
102 1590 60
103 1770 70
104 1940 80
105 2100 90
106 2250 100
107 2390 110
108 2520 120
109 2640 130
110 2750 140

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9221052

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