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Author Question: Define marginal cost and marginal benefit. What will be an ideal ... (Read 52 times)

ereecah

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on: Jun 29, 2018
Define marginal cost and marginal benefit.
 
  What will be an ideal response?

Question 2

In the figure above, suppose the government provides vouchers worth 15,000 per student per year. When the market is in equilibrium, marginal social benefit ________ marginal cost, and the number of students enrolled is ________.
 
  A) exceeds; above the efficient quantity
  B) exceeds; below the efficient quantity
  C) is below; above the efficient quantity
  D) is below; below the efficient quantity
  E) equals; efficient


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amynguyen1221

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal cost is the opportunity cost of an increase in an activity. Marginal benefit is the benefit of an increase in an activity.

Answer to Question 2

E


ereecah

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Reply 2 on: Jun 29, 2018
:D TYSM

kjohnson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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