Hello, please answer the attached question BR, Chapter 11. An engraining firm recently conducted a study to determineits benefit and cost structure. The results of the study are asfollows: B(Y)=300y - and C(Y) = 4What is the marginal benefit and marginal cost? (Hint: usederivative to solve this problem)

Answered: Chapter I 1. An engraining firm…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Hello,

please answer the attached question

BR,

Chapter 1
1. An engraining firm recently conducted a study to determine
its benefit and cost structure. The results of the study are as
follows: B(Y)=300y - and C(Y) = 4
What is the marginal benefit and marginal cost? (Hint: use
derivative to solve this problem)

Expert Solution

Step 1

The benefit is the positive side of the goods supplied by the firm as production. The benefit and the cost are the areas to be measured for measuring the effectiveness. The marginal benefit and the marginal cost are the components of the marginal analysis.

The marginal benefit and the marginal cost when equal would result in the equilibrium. The marginal benefit and the marginal cost would result in the determining the level of the output or the amount of a good or a service.