Answer:
⅘×⅛ = 1/10
Step-by-step explanation:
Answer:
4. 3. 10
5. 1102.31
6. 17.37
Step-by-step explanation:
Answer:
Optimal combination of goods can be determined in an economy that produces only two goods, with production of extra units of the two goods at a minimal marginal social cost. The consumption of the additional units of the two goods being produced will be benefitted by the consumers. This is known as marginal social benefit.
Step-by-step explanation:
Marginal social cost is the change in society's total cost brought about by the production of an additional unit of a good or service. It includes both marginal private cost and marginal external cost.
Marginal social benefit is the change in benefits associated with the consumption of an additional unit of a good or service. It is measured by the amount people are willing to pay for the additional unit of a good or service.
