Asked by Austin isaacs on May 30, 2024
Verified
(Figure: Marginal Benefits and Marginal Costs) Use Figure: Marginal Benefits and Marginal Costs.More time spent studying economics adds points to economics scores (MB) but subtracts points from accounting scores (MC) .When Claudia studies economics for four hours,the marginal benefit is _____ points;when she studies for 6 hours,the marginal benefit is _____ points.
A) 20;10
B) 30;10
C) 20;0
D) 20;30
Marginal Benefits
The incremental satisfaction received from the consumption of one additional unit of a good or service.
Marginal Costs
The incremental cost of manufacturing one more unit of a product or service.
Studying Economics
The academic pursuit of understanding how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their desires and needs.
- Analyze the association between marginal benefit, marginal cost, and the culmination of total advantages.
Verified Answer
AF
Ashlee FendallMay 31, 2024
Final Answer :
A
Explanation :
The marginal benefit (MB) of studying economics decreases as more hours are spent studying. At 4 hours, the MB is 20 points, and at 6 hours, the MB decreases to 10 points, indicating diminishing returns from additional study time.
Learning Objectives
- Analyze the association between marginal benefit, marginal cost, and the culmination of total advantages.