Antarctica produces only party ice and frozen fish. The table shows the marginal benefit and marginal cost schedules for frozen fish. If Antarctica produces 37 frozen fish, the marginal benefit from frozen fish frozen fish. To achieve allocative efficiency, Antarctica must O A. is less than; decrease OB. exceeds; decrease OC. is less than; increase O D. exceeds; increase the marginal cost of the quantity of frozen fish produced. Frozen fish (per month) 33 55 34 35 36 37 38 Marginal Marginal benefit cost (packs of ice per pack of fish) 53 99 0 4 3 2 20 35

Microeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
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Antarctica produces only party ice and frozen fish.
The table shows the marginal benefit and marginal cost schedules for frozen fish.
If Antarctica produces 37 frozen fish, the marginal benefit from frozen fish
frozen fish.
To achieve allocative efficiency, Antarctica must
O A. is less than; decrease
O B. exceeds; decrease
O C.
O D. exceeds; increase
is less than; increase
C
the marginal cost of
the quantity of frozen fish produced.
Frozen fish
(per month)
33
34
35
36
37
38
Marginal
cost
(packs of ice per pack of fish)
Marginal
benefit
53
6
5
4
3
2
3
4
20
35
Transcribed Image Text:Antarctica produces only party ice and frozen fish. The table shows the marginal benefit and marginal cost schedules for frozen fish. If Antarctica produces 37 frozen fish, the marginal benefit from frozen fish frozen fish. To achieve allocative efficiency, Antarctica must O A. is less than; decrease O B. exceeds; decrease O C. O D. exceeds; increase is less than; increase C the marginal cost of the quantity of frozen fish produced. Frozen fish (per month) 33 34 35 36 37 38 Marginal cost (packs of ice per pack of fish) Marginal benefit 53 6 5 4 3 2 3 4 20 35
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