What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)?Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000
A. 600
B. 2,600
C. 3,400
D. 3,000
Answer: D
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A) decreases; increases B) increases; decreases C) decreases; decreases D) increases; increases
Refer to Figure 9.2. A movement from point c to point a could be caused by a(n)
A) decrease in government spending. B) increase in the price of oil. C) decrease in taxes. D) decrease in short-run aggregate supply.
Refer to Figure 5-3. With insurance and a third-party payer system, what is the amount of the deadweight loss?
A) $0 B) $2,500 C) $5,000 D) $24,000
Signals are
A) used by economic decision-makers to inform others about their plans. B) the method by which government planners inform economic decision-makers about the types of decisions they should make. C) the method by which firms determine their profit maximizing quantity. D) compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed.