Uva Chegg.com Review: Final Exam V Question Score 6 of 6 pts The table shows a n

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Uva Chegg.com Review: Final Exam V Question Score 6 of 6 pts The table shows a nation's marginal benefit and marginal cost schedules. What is the marginal benefit from and the marginal cost of growing 1 pound of bananas? The marginal benefit from growing 1 pound of bananas is 3 pounds of coffee. The marginal cost of growing 1 pound of bananas is 1 pound of coffee. Bananas (pounds) Review Test Kellie Alexander Checkpoint 1 Prot Test score: 36.65% (84.3 210 pts) Willing to Must give up give up (pounds of coffoo por Pound of bananas)

Explanation / Answer

Answer:

   The Marginal benefit is the amount of coffee that the nation is willing to give up to get one additional banana. That is the marginal benefit from bananas is 3 pounds of coffee.

    The Marginal cost is the amount of coffee that the nation must give up to get one additional banana. That is the marginal cost of growing 1 pound of bananas is 1 pound of coffee.

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