Describe Marginal benefit curve

Chose the right answer from the following . The marginal benefit curve is: 1) upsloping because of increasing marginal opportunity costs. 2) upsloping because successive units of a specific product yield less and less extra benefit. 3) downsloping because of increasing marginal opportunity costs. 4) downsloping because successive units of a specific product yield less and less extra benefit.

View Complete Question

Related Questions in Microeconomics

Q : Demand curve facing each firm Question:

Question: (1) Suppose the jeans industry is an oligopoly in which each firm sells its own distinctive brand of jeans, and each firm believes its rivals will not follow its price increases but will

Q : Economies of scale in natural monopoly

Economies of scale which are substantial relative to market demand result within the market evolving to a: (w) contestable market. (x) collusive oligopoly. (y) natural monopoly. (z) "high tech" industry.

Q : Order of most backward to forward

Which of the given lists of taxes or taxed goods is possibly in correct order by most backward-shifted to most forward-shifted: (1) Tobacco, property, payroll, general sales. (2) Land, payroll, property, tobacco. (3) Tobacco, payroll,

Q : Determine present value of future income

The present value of future income is: (1) calculated by multiplying future income by the percentage interest rate. (2) higher, the higher the interest rate. (3) lower, the higher the interest rate. (4) unaffected by the interest rate. (5) purely obje

Q : Average retail price and the consumer

Table illustrates the average retail price of milk and the Consumer Price Index from the year 1980 to 1998.

Q : Strategy of lowering then high price in

Juan, Celia, Cassie and Gupta operated rival gas stations at 4 corners of an intersection. Every one originally charged similar price for their gasoline but after Gupta slashed his prices, Juan and Celia as well as Cassie all shut down. Gupta in that case boosted pric

Q : Monopolistic competition in market power

A firm which has some market power but for that long-run profit is prevented by freedom of entry and exit is engaged within: (1) pure monopoly. (2) pure oligopoly. (3) monopolistic competition. (4) socially responsible behavior. (5) pure competition.<

Q : Question on ATC and MC A perfectly

A perfectly competitive market within the long period: Data firm A: ATC = y2 4y + 12 an

Q : Competitive Profit Maximization-average

The purely competitive firm which hires more workers if the value of marginal product of labor increases above the competitively set wage rate will certainly experience rises in its: (1) Overhead costs. (2) Profit per unit. (3) Average variable cost. (4) Marginal reve

Q : Annual economic profit When point e

When point e corresponds to $9 per copy for Silver Screen DVDs, Nostalgia Corporation can produce annual economic profit of at mostly about: (i) $25 million. (ii) $35 million. (iii) $50 million. (iv) $75 million. (v) $100 million.

Discover Q & A

Leading Solution Library

Avail More Than 1423904 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1934563
Asked

3,689

Active Tutors

1423904

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment