Craft a scenario and a numeric problem for other students to solve using the Marginal Benefit/Marginal...
Craft a scenario and a numeric problem for other students to solve using the Marginal Benefit/Marginal Cost framework. Explain how the "MB" and "MC" are defined in your scenario, and why they increase, decrease or remain constant. Try to use your scenario to explain some behavior or phenomenon that may be puzzling at first glance.
Homework Answers
Scenario :
Mr. X is a seller (he sells potato) in a vegetable market where for a particular day selling price is determined for potato is $10 for 1 kilogram.
The total cost of selling potato is given by following:
| No of unit Sold in Kg. | Total Cost | Per-unit Cost | Per-unit Profit | Total Profit |
| 0 | 5 | 5 | -5 | -5 |
| 1 | 8 | 8 | 2 | 2 |
| 2 | 10 | 5 | 5 | 10 |
| 3 | 16 | 5.33 | 4.66 | 16 |
| 4 | 26 | 6.5 | 3.5 | 16 |
| 5 | 50 | 10 | 0 | 0 |
From total cost he himself made some calculations like Per-unit cost, Per-unit Profit, Total profit. and got above mentioned table.
This table confused him as Maximum Per unit profit he is getting by selling 2 units while max total profit he is getting by selling 3 or 4 units.
Question: How would you help Mr.X take right decision?
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Craft a scenario and a numeric problem for other students to
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puse of the Assignments is to assess the student in each unit to practical problem-solving scenarios. lent's ability to apply the economic concepts learned Instructions ATV 000 for your purchase y cost of one ATV? Students are to complete the exercises in Word (or so for evaluation. crises in Word (or some other compatible word processor) and submit Questions 1. The purpose of economics is to provide a way to recognize that because of scarcity something cannot Consequently, we must...
Please help with this problem.
Solution: Show your your analysis in organized schedules as much as possible. A schedule for completing Requirement #1 is provided for you. Be sure to properly link cells and use formulas where applicable. Requirement 1: Scenario 1 Scenario 2 Scenario 3 Current Year $35.00 43,000 4 Problem B (26 points): 5 Block Ltd makes BLOCKS. Their pre-tax income and their margin of safety have both been low 6 compared to the levels the company would...
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help
INTRODUCTION Cost, revenue and profit functions may take parabolic forms. In many business and economics applications, our most important goal is to maximize revenue, profit or minimize cost. We may be able to find the price or the quantity of goods and services that maximizes profit, revenue and minimizes cost by using quadratic formula and vertex formula. The goal of this project is to enhance the understanding quadratic functions and how to find the maximum/minimum. Question 1: If you...
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