Asked by
Distika Simkhada
on Oct 25, 2024
Verified
If the marginal cost of any activity is constant at $4,then at the optimal quantity of the activity,the marginal benefit will be $4.
Marginal Cost
The expense associated with creating an extra unit of a product or service.
Marginal Benefit
The further satisfaction or value an individual gains from consuming an extra unit of a certain product or service.
Optimal Quantity
The amount of a good or service that achieves the best balance between cost and benefit.
- Identify the role and calculation of marginal costs and benefits in optimal decision making.
Verified Answer
TG
Learning Objectives
- Identify the role and calculation of marginal costs and benefits in optimal decision making.
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