In a constrained minimization problem p 500 pb 100 mb 50, Ask an Expert

Economics

In a constrained minimization problem, P = $500, PB = $100, MB = 50, and MB = 60. If one unit of A is taken away, how many units of B must be added to keep total benefits constant?

a. If one unit of A is taken away, how many units of B must be added to keep total benefits constant?

b. By how much is total cost reduced by the substitution in part a?

c. If the substitution in part a continues until equilibrium is reached, what will be the equilibrium relation between MB and MB?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91927532

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