3 Use the below table to answer this question:MarginalOpportunity CostNumber of Forklifts Total BenefitMarginal Benefit$8$14$18$20123.14Michael is deciding how many forklifts to purchase. Suppose a forklift costs $100and the interest rate is 7%. How many forklifts should Michael buy?4 Forklifts1 Forklift3 Forklifts2 ForkliftsO Forklifts If aggregate expenditure in an economy equals 2,000 + 0.8Y and full employmentreal GDP equals 8,000, then this economyhas an expansionary gapis at full employmenthas no autonomous expenditurehas a recessionary gap

Marginal Opportunity Cost is the additional cost incurred by buying an additional forklift . It is…

Use the below table to answer this question: Marginal Opportunity Cost Number of Forklifts Total Benefit Marginal Benefit $8 $14 $18 $20 Michael is deciding how many forklifts to purchase. Suppose a forklift costs $100 and the interest rate is 7%. How many forklifts should Michael buy? 234

Use the below table to answer this question: Marginal Opportunity Cost Number of Forklifts Total Benefit Marginal Benefit $8 $14 $18 $20 Michael is deciding how many forklifts to purchase. Suppose a forklift costs $100 and the interest rate is 7%. How many forklifts should Michael buy? 234

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 1WNG

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If aggregate expenditure in an economy equals 2,000 + 0.8Y and full employment
real GDP equals 8,000, then this economy
has an expansionary gap
is at full employment
has no autonomous expenditure
has a recessionary gap

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Cite three examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit.
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