MARGINAL COST, MARGINAL BENEFIT ($ per hour of reading per week) 20 18 16 14 12 10 8 A O 0 1 maximized. 2 3 5 6 7 READING (Hours per week) 8 9 10 Marginal-Cost Curve Marginal-Benefit Curve Efficient Point At any level of reading below the efficient level, the marginal-benefit curve is reading are the marginal-cost curve. This means the marginal benefits of hours. On the than the marginal costs of reading, and therefore, you can increase net benefits by reading for other hand, at any level of reading greater than the efficient amount, the marginal-benefit curve is_ that the marginal benefits of reading are the marginal-cost curve. This means than the marginal costs of reading, and therefore, you can increase net benefits by reading for hours. Only at the efficient point, where marginal benefits are the marginal costs of reading are net benefits
MARGINAL COST, MARGINAL BENEFIT ($ per hour of reading per week) 20 18 16 14 12 10 8 A O 0 1 maximized. 2 3 5 6 7 READING (Hours per week) 8 9 10 Marginal-Cost Curve Marginal-Benefit Curve Efficient Point At any level of reading below the efficient level, the marginal-benefit curve is reading are the marginal-cost curve. This means the marginal benefits of hours. On the than the marginal costs of reading, and therefore, you can increase net benefits by reading for other hand, at any level of reading greater than the efficient amount, the marginal-benefit curve is_ that the marginal benefits of reading are the marginal-cost curve. This means than the marginal costs of reading, and therefore, you can increase net benefits by reading for hours. Only at the efficient point, where marginal benefits are the marginal costs of reading are net benefits
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...
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