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
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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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