the following are given. control variable = 100,the total benefit = 1200, the total cost = 950, the marginal benefit = 210,the marginal cost = 40.
to find the net benefit = Total benefit(1200)-total cost(950) = 250
to find the Marginal net benefit = Marginal benefit(210)-Marginal cost(40) = 170
now the important question is i have the control variable 101, total benefit = 1400, marginal cost =50
I have to find the total cost, net benefit, marginal benefit, marginal net benefit.
how to i solve this with only given the control variable, total benefit and the marginal cost??
please help
to find the net benefit = Total benefit(1200)-total cost(950) = 250
to find the Marginal net benefit = Marginal benefit(210)-Marginal cost(40) = 170
now the important question is i have the control variable 101, total benefit = 1400, marginal cost =50
I have to find the total cost, net benefit, marginal benefit, marginal net benefit.
how to i solve this with only given the control variable, total benefit and the marginal cost??
please help