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question (2) Marginal Cost = Change in cost / Change in quantity
= 400 / 100 = $ 4
Q(3) Marginal Benefit = $500-$100 = $ 400
Q(4) Marginal benefit of 2 bags of seeds = $ 1000-$200 = $ 800
Q(5) Marginal Benefit of 3 bags of seeds = $ 1500-$300 =$ 1200
If he is being rational,maximum number of bags = depends on land available
fear that Spain would try to regain it's colonies in Latin America, despite their declaration of independence
The Monroe Doctrine was an effort by President James Monroe in 1823 to limit other European powers particularly Spain from settling colonies or province in the Western Hemisphere. It basically declared that the United States would recognize such trials as an act of hostility because America fear that Spain would try to regain it's colonies in Latin America. At the same time, the doctrine recorded that the U.S. would appreciate and not intervene with existing European colonies nor interrupt in the internal affairs of European countries.
