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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Ivan stops studying before the point at which his marginal benefits of studying equals his marginal costs. Is Ivan forfeiting any net benefits? Explain your answer.

To determine

Explain if Person I forfeits any net benefits.

Explanation

The equality of marginal benefit and marginal cost is the efficiency situation. The net benefit received from an activity is maximized when the marginal benefit of an activity is equal to its marginal cost...

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