Question
In: Economics
Using the data from the table below and correctly applying the Cost-Benefit Principle, what number of units should be completed?
Using the data from the table below and correctly applying the Cost-Benefit Principle, what number of units should be completed?
Solutions
Expert Solution
Here the consumer purchase the good where the marginal benefit equals the marginal cost of the good, the marginal benefit is the additional benefit that incurred from consuming an additional unit of the commodity. Like the marginal cost is the additional cost made to the total cost when an additional unit of the commodity is produced.
OR 
.
.
Here the number of units would
be completed is 3. From the 4th unit on wards the marginal cost
outweigh the marginal benefit.
ANS: 
UNITS.
Rahul Sunny answered 2 years agoRelated Solutions
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