KSuppose your total benefits of renting x DVD's next month is:-x+14x+60The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x.Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.)Your net benefit is maximized at DVDs.Suppose further that your marginal benefit from watching x DVD's is - 2x + 14.If you follow the Principle of Optimization at the Margin, you will rent DVDs.Why should you have anticipated your answer to (c)?OA. The total net benefit of watching a DVD is increasing with watching DVDs.(1)DVDsRented012345678(2)Total NetBenefit Your net benefit is maximized atDVDs.Suppose further that your marginal benefit from watching x DVD's is - 2x + 14.If you follow the Principle of Optimization at the Margin, you will rentWhy should you have anticipated your answer to (c)?DVDs.OA. The total net benefit of watching a DVD is increasing with watching DVDs.B. The marginal cost of watching a DVD is constant.C. The optimum in this example is feasible.OD. Optimization in levels and in differences always yield the same answer.OE. There is no difference between this outcome and the next feasible alternative.(1)DVDsRented01234567856

The Total Benefit of production, in the instance of a company's production decisions, would be the…

K -x+14x+60 The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x. Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.) (1) DVDs Rented 0 1 2 3 4 5 6 7 8 (2) Total Net Benefit

K -x+14x+60 The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x. Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.) (1) DVDs Rented 0 1 2 3 4 5 6 7 8 (2) Total Net Benefit

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 1.3P

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Question

K
Suppose your total benefits of renting x DVD's next month is:
-x+14x+60
The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x.
Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.)
Your net benefit is maximized at DVDs.
Suppose further that your marginal benefit from watching x DVD's is - 2x + 14.
If you follow the Principle of Optimization at the Margin, you will rent DVDs.
Why should you have anticipated your answer to (c)?
OA. The total net benefit of watching a DVD is increasing with watching DVDs.
(1)
DVDs
Rented
0
1
2
3
4
5678
(2)
Total Net
Benefit

Your net benefit is maximized at
DVDs.
Suppose further that your marginal benefit from watching x DVD's is - 2x + 14.
If you follow the Principle of Optimization at the Margin, you will rent
Why should you have anticipated your answer to (c)?
DVDs.
OA. The total net benefit of watching a DVD is increasing with watching DVDs.
B. The marginal cost of watching a DVD is constant.
C. The optimum in this example is feasible.
OD. Optimization in levels and in differences always yield the same answer.
OE. There is no difference between this outcome and the next feasible alternative.
(1)
DVDs
Rented
0
1
2
3
45678
5
6

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