What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)? Control variable. Marginal Net Benefit MNB (Q) Q 0 1 2 3 4 5 6 7 8 9 10 Total Benefits Total Costs B(Q) C(Q) 0 900 1,700 2,400 A 3,500 3,900 4,200 4,400 4,500 4,500 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800 1,400 800 0 -1,000 Marginal Benefit MB (Q) 900 800 700 600 500 D 300 200 100 0 Marginal Cost MC (Q) 100 200 E 400 sda 600 700 800 900 1,000 800 600 400 200 F -200 -400 -600 -800 -1,000

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Multiple Choice
O
600
2,600
3,000
3,400
↓
Transcribed Image Text:Multiple Choice O 600 2,600 3,000 3,400 ↓
What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)?
Control
variable
Marginal
Cost
Marginal Net
Benefit
Q
MC (Q)
MNB (Q)
0
1
2
3
4
5
6
7
8
19
10
Total
Benefits. Total Costs
B(Q)
0
900
1,700
2,400
A
3,500
3,900
4,200
4,400
4,500
4,500
C(Q)
0
100
300
600
1,000
1,500
2,100
2,800
B
4,500
5,500
Net
Benefits
N(Q)
0
800
C
1,800
2,000
2,000
1,800
1,400
800
0
-1,000
Marginal
Benefit
MB (Q)
900
800
700
600
500
D
300
200
100
0
100
200
E
400
5.d
600
700
800
900
1,000
800
600
400
200
F
-200
-400
-600
-800
-1,000
Transcribed Image Text:What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)? Control variable Marginal Cost Marginal Net Benefit Q MC (Q) MNB (Q) 0 1 2 3 4 5 6 7 8 19 10 Total Benefits. Total Costs B(Q) 0 900 1,700 2,400 A 3,500 3,900 4,200 4,400 4,500 4,500 C(Q) 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800 1,400 800 0 -1,000 Marginal Benefit MB (Q) 900 800 700 600 500 D 300 200 100 0 100 200 E 400 5.d 600 700 800 900 1,000 800 600 400 200 F -200 -400 -600 -800 -1,000
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