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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

How would an economist define the efficient amount of time spent playing tennis?

To determine

Explain how the economists define the amount of time spent for playing tennis.

Explanation

Generally, efficiency occurs when the marginal benefit received and marginal cost incurred of an activity is equal. If the marginal benefit is greater than marginal costs, people proceed with the activity...

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