For each of the following situations involving marginal cost (MC) and marginal benefit (MB), indicate whether it would be best to produce more, fewer, or the current number of units. a. 3,000 units at which MC = $10 and MB = $13: (Click to select) More Fewer Current number . b. 11 units at which MC = $4 and MB = $3: (Click to select) More Fewer Current number . c. 43,277 units at which MC = $99 and MB = $99: (Click to select) More Fewer Current number . d. 82 units at which MC < MB: (Click to select) More Fewer Current number . e. 5 units at which MB < MC
For each of the following situations involving marginal cost (MC) and marginal benefit (MB), indicate whether it would be best to produce more, fewer, or the current number of units. a. 3,000 units at which MC = $10 and MB = $13: (Click to select) More Fewer Current number . b. 11 units at which MC = $4 and MB = $3: (Click to select) More Fewer Current number . c. 43,277 units at which MC = $99 and MB = $99: (Click to select) More Fewer Current number . d. 82 units at which MC < MB: (Click to select) More Fewer Current number . e. 5 units at which MB < MC
Chapter1: What Economics Is About
Section: Chapter Questions
Problem 1WNG
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For each of the following situations involving marginal cost (MC) and marginal benefit (MB), indicate whether it would be best to produce more, fewer, or the current number of units.
a. 3,000 units at which MC = $10 and MB = $13: (Click to select) More Fewer Current number .
b. 11 units at which MC = $4 and MB = $3: (Click to select) More Fewer Current number .
c. 43,277 units at which MC = $99 and MB = $99: (Click to select) More Fewer Current number .
d. 82 units at which MC < MB: (Click to select) More Fewer Current number .
e. 5 units at which MB < MC
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