This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Define marginal cost and marginal benefit. What will be an ideal ... (Read 24 times)

ereecah

  • Hero Member
  • *****
  • Posts: 530
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

amynguyen1221

  • Sr. Member
  • ****
  • Posts: 355
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

  • Member
  • Posts: 530
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

T4T

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Cost Savings with an EHR System Cost Savings with an EHR System
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
Cost of Going to School Cost of Going to School
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: DNA Sequences - Dideoxy Sequencing

For a complete list of videos, visit our video library