Want this question answered?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
Marginal benefit 'occurs' for any benefit (price) function, since a marginal term is simply the first-order derivative of its parent function. Marginal benefit is strictly greater than zero only when a benefit function is always increasing in total benefit over its domain.
Marginal net benefits= Marginal benefit- Marginal cost
Marginal Benefit curve is usually downward sloping, while Marginal Cost is usually upward sloping.
water is necessary for life, is the marginal benefit of water is large or small?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
Marginal benefit 'occurs' for any benefit (price) function, since a marginal term is simply the first-order derivative of its parent function. Marginal benefit is strictly greater than zero only when a benefit function is always increasing in total benefit over its domain.
When Marginal benefit (MB) exceed Marginal cost (MC). The society values the additional unit of product more than the cost of producing it. In this case, Net benefit will increase as long as firms produces more until the point where MB = MC. (Because every additional output will add more to MB than to MC, Net benefit will rise)
Marginal net benefits= Marginal benefit- Marginal cost
The term marginal cost refers to the oppurtunity cost associated with producing one more additional unit of a good. Opportunity cost is a critical concept to economics - it refers to the value of the highest value alternative opportunity. For example, in examining the marginal cost of producing one more bushel of wheat, that number could be expressed as the dollar value of corn or other goods that could be produced in lieu of more wheat. Marginal benefit refers to what people are willing to give up in order to obtain one more unit of a good, while marginal cost refers to the value of what is given up in order to produce that additional unit. Additional units of a good should be produced as long as marginal benefit exceeds marginal cost. It would be inefficient to produce goods when the marginal benefit is less than the marginal cost. Therefore an efficient level of product is achieved when marginal benefit is equal to marginal cost.
Marginal net benefits= Marginal benefit- Marginal cost
when marginal benefit is equal to marginal cost To be more specific: When the marginal damage cost of polluting is equal to the marginal abatement cost of polluting (or the marginal benefit of polluting, which is equivalent to the MAC)
Marginal Benefit curve is usually downward sloping, while Marginal Cost is usually upward sloping.
water is necessary for life, is the marginal benefit of water is large or small?
Marginal Benefit
Marginal Benefit
what is it marginal utility