Complete the accompanying table and answer the accompanying questions. a. At what level of the control variable
Question:
a. At what level of the control variable are net benefits maximized?
b. What is the relation between marginal benefit and marginal cost at this level of the variable?
Transcribed Image Text:
Marginal Net Marginal Benefit Control Total Total Net Marginal Cost Varlable Benefits Cost Benefits Benefits MB(O) MNB(0) B(O) CO) N(O) MC(O) 100 1200 950 210 60 1400 101 70 102 1590 80 103 1770 90 104 1940 100 105 2100 110 2250 106 120 107 2390 130 108 2520 140 109 2640 150 110 2750 160
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Related Book For
Managerial Economics and Business Strategy
ISBN: 978-1259290619
9th edition
Authors: Michael Baye, Jeff Prince
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