The island nation of Maldives has 70,000 households. Each household receives a m

Question

The island nation of Maldives has 70,000 households. Each household receives a marginal benefit from Coast Guard security of MB = 60 – 0.30Q, where Q measures the number of patrolling Coast Guard ships. What is the total marginal benefit of the tenth patrolling ship? $775,000 $3,990,000 $2,810,000 $1,500,000 The island nation of Maldives has 70,000 households. Each household receives a marginal benefit from Coast Guard security of MB = 60 – 0.30Q, where Q measures the number of patrolling Coast Guard ships. What is the total marginal benefit of the tenth patrolling ship? $775,000 $3,990,000 $2,810,000 $1,500,000

Explanation / Answer

MB = 60 – 0.30Q, for Q=10

MB = 60 - 3 = 57

Total MB = 57*70,000 = $3,990,000

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