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Devita Saunders
on Oct 25, 2024

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(Figure: The Optimal Quantity) Use Figure: The Optimal Quantity.If the marginal benefit of lawn mowing decreased,the marginal _____ curve in the figure would shift to the _____ and the optimal quantity would be _____ than five lawns mowed.

A) benefit;right;more
B) cost;right;fewer
C) benefit;left;fewer
D) cost;left;more

Marginal Benefit

The extra pleasure or benefit gained from the consumption of one more unit of a good or service.

Optimal Quantity

The quantity of a good or service that maximizes a firm's profits or an individual's utility, based on cost and benefit analysis.

Marginal Curve

A graphical representation of the marginal cost, marginal revenue, or marginal benefit of producing additional units of a good or service.

  • Examine the effects of alterations in marginal benefit and marginal cost on the process of making optimal decisions.
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Salwa AhmadOct 27, 2024
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