Joe consumption of hot dogs? Explain why Joe makes this choice of consumption. T

Question

Joe consumption of hot dogs? Explain why Joe makes this choice of consumption. The following table provides information about Alban's Service Shop, which specializes in providing all sorts of services to customers in the metro area.  Define marginal cost and marginal benefit. Calculate and fill in the missing values for the cells labeled (a) through (I) in the table. When Alban produces 2 units of services, what is the relationship between marginal cost and marginal benefit? Are 2 units of services an optimal quantity tor Alban to produce? Explain your answer. When Alban produces 5 units of services, w hat is the relationship between marginal cost and marginal benefit? Are 5 units of services an optimal quantity for Alban to produce? Explain your answer. Given the preceding information, what is the optimal quantity of services for Alban to produce?

Explanation / Answer

no. of services total cost marginal cost total benefit marginal benefit 0 100 0 0 0 1 110 10 200 200 2 118 8 230 30 3 125 7 245 15 4 135 10 255 10 5 150 15 263 8 6 170 20 268 5

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