« previous next »

Author Question: Explain the difference between marginal cost and marginal benefit. What will be an ideal ... (Read 54 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
Explain the difference between marginal cost and marginal benefit.
 
  What will be an ideal response?

Question 2

In the above figure, a single-price monopolist charges a price of ________, resulting in total revenue equal to area ________.
 
  A) 10; hbcd
  B) 20; fjem
  C) 10; fbcg
  D) 30; fbcg


todom5090

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal benefit is the benefit someone in society obtains when another unit of a good or service is produced. Marginal cost is the cost to someone in society of producing another unit of a good or service.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Difference between.... Difference between....
Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s
A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ... A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ...
Cost Accounting 14 Cost Accounting 14
An electron is accelerated from rest through a potential difference of 3750 V. It enters a ... An electron is accelerated from rest through a potential difference of 3750 V. It enters a ...
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Green alga life cycle Animation

For a complete list of videos, visit our video library