can you do a Marginal Analysis ?


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

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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. ...
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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 ...

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