« previous next »

Author Question: Explain the difference between marginal cost and marginal benefit. What will be an ideal ... (Read 45 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?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
How to Factor a Sum or Difference of Two Cubes How to Factor a Sum or Difference of Two Cubes
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library