can you do a Marginal Analysis ?

Anonymous

Question Description

please take a look at the file below. it has the assignment questions make sure to answer each component of the assignment.

Unformatted Attachment Preview

Assignment: 1) Specify and explain the typical shapes of marginal-benefit and marginal-cost curves. 2) How are these curves used to determine the optimal allocation of resources to a particular product? 3) If current output is such that marginal cost exceeds marginal benefit, should more or fewer resources be allocated to this product? Explain. ...
Purchase answer to see full attachment

Tutor Answer

Robertmariasi
School: Purdue University

Helllo there,I am done ,took me longer to get the references and in-text citation. I am attaching to this message a Microsoft Office Word (.docx) format file entitled "Economics 3 Questions" which contains the answers to all your 3 questions . I also inserted a graphic to each questions that can make the answer be more easier understood . If you don't need it just remove it.Everything that is written in bold is a question , italic is the answer and i highlighted some essential stuff.Summary of the answers :Q1 : Marginal benefit actually means how much the company earns by selling a product over time .After each selling the value of the product decreases anyway and that's why the line will be going downward. / Marginal cost is how much it costs to produce the item. It has a U shape that tends to go upward . In the beginning is high because no one is specialized in creating it , then you get used to working on it so it decreases but that increases again because you hire more people.Q2 : Optimal allocation is the intersection of the two lines . When Marginal cost = Marginal benefit it ...

flag Report DMCA
Review

Anonymous
Thank you! Reasonably priced given the quality not just of the tutors but the moderators too. They were helpful and accommodating given my needs.

Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors