Answer the question based on the following information for four highway programs of increasing scope. All figures are in millions of dollars.ProgramABCDTotal Cost$26The data indicate thatMultiple Choice1220Total Benefit162123there is no highway program that is economically justifiable based on cost-benefit analysisthe marginal cost and marginal benefit of Program A are $2 and $9, respectively.program D is optimal because it maximizes the total benefit The data indicate thatMultiple Choicethere is no highway program that is ectpomically justifiable based on cost-benefit analysis.the marginal cost and marginal benefit of Program A are $2 and $9, respectively.program D is optimal because it maximizes the total benefit.the marginal cost and marginal benefit of Program C are $12 and $21, respectively

Marginal cost is the change in total cost that arises when the quantity produced changes by one…

Answer the question based on the following information for four highway programs of increasing scope. All figures are in millions of dollars. Program A B C D Total Cost $2 6 12 20 The data indicate that Total Benefit $9 16 21 23

Answer the question based on the following information for four highway programs of increasing scope. All figures are in millions of dollars. Program A B C D Total Cost $2 6 12 20 The data indicate that Total Benefit $9 16 21 23

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The data indicate that
Multiple Choice
there is no highway program that is ectpomically justifiable based on cost-benefit analysis.
the marginal cost and marginal benefit of Program A are $2 and $9, respectively.
program D is optimal because it maximizes the total benefit.
the marginal cost and marginal benefit of Program C are $12 and $21, respectively

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