Use the graph below to answer the following questions:
At 200 units of the activity, marginal benefit is $__________ and marginal cost is $__________. Adding the 200th unit of the activity causes net benefit to __________ (increase, decrease) by $__________. At 700 units of the activity, marginal benefit is $__________ and marginal cost is $__________. Subtracting the 700th unit of the activity causes net benefit to __________ (increase, decrease) by $__________. The optimal level of the activity is __________units. At the optimal level of the activity, marginal benefit is $__________ and marginal cost is $_______
Homework Answers
1) MB = 8
2) MC = 4
3) Decrease by $ 4
4) MB = 4
5) MC = $ 10
6) Decrease by 6
7) 400 is the optimal level of activity
8) MB = $ 6
9) MC = $ 6
Add Answer to:
Use the graph below to answer the following questions:
At 200 units of the activity, marginal...
Use the graph below to answer the following questions: a) At 200 units of the activity,...
Use the graph below to answer the following questions: a) At 200
units of the activity, marginal benefit is $__________ and marginal
cost is $__________. b) Adding the 200th unit of the activity
causes net benefit to __________ (increase, decrease) by
$__________. c) At 700 units of the activity, marginal benefit is
$__________ and marginal cost is $__________. d) Subtracting the
700th unit of the activity causes net benefit to __________
(increase, decrease) by $__________. e) The optimal level of...
Refer to the graph below. The graph shows marginal benefits (MB) and marginal cost (M) of...
Refer to the graph below. The graph shows marginal benefits (MB) and marginal cost (M) of activity A MC Marginal benefit and cost (dollars) MB 500 100 200 300 400 Activity A If the decision maker is choosing 300 units of activity A, O this level maximizes net benefits. O if the activity is increased by one unit, net benefits will increase by $20. O if the activity is decreased by one unit, net benefits will decrease by $20. O...
What is the marginal net benefit associated with producing five units of the control variable, Q...
What is the marginal net benefit associated with producing five
units of the control variable, Q (identify point F in the
table)?
Net Marginal Marginal Marginal Net Total variable | Benefits CostsBenefits Benefit c(Q) Contro.1 Total Cost Benefit B(Q) N(Q) MB(Q) MC (Q) MNB (Q) 800 600 400 200 100 900 800 700 600 500 800 100 300 600 1,000 1,500 2,100 2,800 900 1,700 2,400 200 2 1,800 2,000 2,000 1,800 1,400 800 400 500 600 700 800 900...
Use Table Below: Coal Mine Pollution. The table shows the marginal social benefit and cost of...
Use Table Below: Coal Mine Pollution. The table shows the
marginal social benefit and cost of various amounts of pollution
from a coal mine. If 5 tons of pollution is produced, the marginal
social benefit is _____, and the marginal social cost is
_____.
$400; $400
$300; $500
$0; $800
$800; $0
Table: Coal Mine Pollution Quantity of Marginal Marginal Pollution Social Social (tons) Benefit Cost $800 $0 700 100 600 200 500 300 400 500 200 600 700 0...
The accopmanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of pollution...
The accopmanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of pollution emissions. 1,000 900 Move the point, P, to the point representing the optimal level of pollution. MSC 800 What is the optimal quantity of pollution? 700 Dollars metric tons 400 300 The optimal quantity of pollution is not zero because: 200 MSB O 0 1 2 3 4 5 6 Metric tons of pollution 7 8 9 10 O the marginal social cost of...
The following shows the demands and marginal revenue in two markets (D1 and MR1, and D2...
The following shows the demands and marginal revenue in two
markets (D1 and MR1, and D2 and MR2) for a price discriminating
firm along with total demand, DT, marginal revenue, MRT, and
marginal cost MC. As with the PPT slides, you can view the data
generating these lines; for reference,
D1=600–0.5Q
D2=800–0.5Q
MRT=700–0.5Q
DT=700–0.25Q
MC=0.0009Q2–0.5Q+376
The graph shows two sets of demand (D1,D2D1,D2) and marginal
revenue (MR1,MR2MR1,MR2) curves for individual markets 1 and 2,
with quantity on the horizontal axis,...
The above graph shows two possible marginal cost curves for the production of hoodies (hooded sweatshirts)....
The above graph shows two possible marginal cost curves for the
production of hoodies (hooded sweatshirts). Assume that the hoodie
market is perfectly competitive. If a hoodie industry consists of
10 firms with a marginal cost curve of MC 1 and 20 firms with a
marginal cost curve of MC 2, what is the quantity of hoodies
supplied at a price of $12 per hoodie?
$14 $13 MC 1 $12 $11 MC 2 $10 $9 $8 Marginal Cost of Hoodies...
Total costs in the table are: Select one: a. decreasing at a decreasing rate. b. decreasing...
Total costs in the table are: Select one: a. decreasing at a decreasing rate. b. decreasing at a constant rate. c. increasing at a constant rate. d. increasing at an increasing rate. | M Control variable e 0 Total Benefits B(Q) arginal Benefit MB(Q) Marginal Cost MC(Q) Marginal Net Benefit MNB(Q) 0 900 1,700 100 200 Total Costs C(Q) 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800...
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at...
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $6 per hour, while the marginal benefits of reading decline (over time) as more reading is performed. In particular, suppose the following table contains the marginal benefit associated with various levels of hours spent reading Time Spent Reading Marginal Benefits (Hours)(Dollars per hour) 10 16 40 Assume the marginal-benefit curve is a straight line through the two points described in the table on the...
Use the following graph, which shows an aggregate demand curve, to answer the next question, 250...
Use the following graph, which shows an aggregate demand curve, to answer the next question, 250 200 150 100 AD 0 500 600 700 800 Real GDP ($B) If the price level decreases from 200 to 100, the real output demanded will Multiple Cholce Increase by $800 billlon Increase by $200 billion decrease by $600 billion decrease by $200 billion
Use the graph below to answer the following questions: a) At 200
units of the activity, marginal benefit is $__________ and marginal
cost is $__________. b) Adding the 200th unit of the activity
causes net benefit to __________ (increase, decrease) by
$__________. c) At 700 units of the activity, marginal benefit is
$__________ and marginal cost is $__________. d) Subtracting the
700th unit of the activity causes net benefit to __________
(increase, decrease) by $__________. e) The optimal level of...
Refer to the graph below. The graph shows marginal benefits (MB) and marginal cost (M) of activity A MC Marginal benefit and cost (dollars) MB 500 100 200 300 400 Activity A If the decision maker is choosing 300 units of activity A, O this level maximizes net benefits. O if the activity is increased by one unit, net benefits will increase by $20. O if the activity is decreased by one unit, net benefits will decrease by $20. O...
What is the marginal net benefit associated with producing five
units of the control variable, Q (identify point F in the
table)?
Net Marginal Marginal Marginal Net Total variable | Benefits CostsBenefits Benefit c(Q) Contro.1 Total Cost Benefit B(Q) N(Q) MB(Q) MC (Q) MNB (Q) 800 600 400 200 100 900 800 700 600 500 800 100 300 600 1,000 1,500 2,100 2,800 900 1,700 2,400 200 2 1,800 2,000 2,000 1,800 1,400 800 400 500 600 700 800 900...
Use Table Below: Coal Mine Pollution. The table shows the
marginal social benefit and cost of various amounts of pollution
from a coal mine. If 5 tons of pollution is produced, the marginal
social benefit is _____, and the marginal social cost is
_____.
$400; $400
$300; $500
$0; $800
$800; $0
Table: Coal Mine Pollution Quantity of Marginal Marginal Pollution Social Social (tons) Benefit Cost $800 $0 700 100 600 200 500 300 400 500 200 600 700 0...
The accopmanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of pollution emissions. 1,000 900 Move the point, P, to the point representing the optimal level of pollution. MSC 800 What is the optimal quantity of pollution? 700 Dollars metric tons 400 300 The optimal quantity of pollution is not zero because: 200 MSB O 0 1 2 3 4 5 6 Metric tons of pollution 7 8 9 10 O the marginal social cost of...
The following shows the demands and marginal revenue in two
markets (D1 and MR1, and D2 and MR2) for a price discriminating
firm along with total demand, DT, marginal revenue, MRT, and
marginal cost MC. As with the PPT slides, you can view the data
generating these lines; for reference,
D1=600–0.5Q
D2=800–0.5Q
MRT=700–0.5Q
DT=700–0.25Q
MC=0.0009Q2–0.5Q+376
The graph shows two sets of demand (D1,D2D1,D2) and marginal
revenue (MR1,MR2MR1,MR2) curves for individual markets 1 and 2,
with quantity on the horizontal axis,...
The above graph shows two possible marginal cost curves for the
production of hoodies (hooded sweatshirts). Assume that the hoodie
market is perfectly competitive. If a hoodie industry consists of
10 firms with a marginal cost curve of MC 1 and 20 firms with a
marginal cost curve of MC 2, what is the quantity of hoodies
supplied at a price of $12 per hoodie?
$14 $13 MC 1 $12 $11 MC 2 $10 $9 $8 Marginal Cost of Hoodies...
1. Working with Numbers and Graphs Q1 Suppose the marginal costs of reading are constant at $6 per hour, while the marginal benefits of reading decline (over time) as more reading is performed. In particular, suppose the following table contains the marginal benefit associated with various levels of hours spent reading Time Spent Reading Marginal Benefits (Hours)(Dollars per hour) 10 16 40 Assume the marginal-benefit curve is a straight line through the two points described in the table on the...
Use the following graph, which shows an aggregate demand curve, to answer the next question, 250 200 150 100 AD 0 500 600 700 800 Real GDP ($B) If the price level decreases from 200 to 100, the real output demanded will Multiple Cholce Increase by $800 billlon Increase by $200 billion decrease by $600 billion decrease by $200 billion
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