Give typing answer with explanation and conclusion Marginal cost and marginal benefit(dollars per pound)54320MSCMSB100 200 300 400 500600Quantity (pounds of coffee per day)The above figure shows the marginal social benefit and marginal social costcurves of coffee in the nation of Kaffenia. When 400 pounds of coffee areproduced and consumed in Kaffenia each day, that is_O more efficient than when 300 pounds are produced and consumed because more isalways better than less.inefficient because the marginal social benefit exceeds the marginal social cost.O inefficient because the marginal social cost of the 400th pound exceeds its marginalsocial benefit.O inefficient because the opportunity cost of producing more coffee exceeds itsmarginal social benefit.

Maximum efficiency in economics refers to the condition wherein an economy employs its resources…

Morginal cost and marginal benefit (dollors per pound) 2 0 MSC MSB 100 200 300 400 500 600 Quantity (pounds of coffee per day) The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. When 400 pounds of coffee are produced and consumed in Kaffenia each day, that is_ more efficient than when 300 pounds are produced and consumed because more is always better than less. O inefficient because the marginal social benefit exceeds the marginal social cost. inefficient because the marginal social cost of the 400th pound exceeds its marginal social benefit. O inefficient because the opportunity cost of producing more coffee exceeds its marginal social benefit.

Morginal cost and marginal benefit (dollors per pound) 2 0 MSC MSB 100 200 300 400 500 600 Quantity (pounds of coffee per day) The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. When 400 pounds of coffee are produced and consumed in Kaffenia each day, that is_ more efficient than when 300 pounds are produced and consumed because more is always better than less. O inefficient because the marginal social benefit exceeds the marginal social cost. inefficient because the marginal social cost of the 400th pound exceeds its marginal social benefit. O inefficient because the opportunity cost of producing more coffee exceeds its marginal social benefit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Give typing answer with explanation and conclusion

Marginal cost and marginal benefit
(dollars per pound)
5
4
3
2
0
MSC
MSB
100 200 300 400 500
600
Quantity (pounds of coffee per day)
The above figure shows the marginal social benefit and marginal social cost
curves of coffee in the nation of Kaffenia. When 400 pounds of coffee are
produced and consumed in Kaffenia each day, that is_
O more efficient than when 300 pounds are produced and consumed because more is
always better than less.
inefficient because the marginal social benefit exceeds the marginal social cost.
O inefficient because the marginal social cost of the 400th pound exceeds its marginal
social benefit.
O inefficient because the opportunity cost of producing more coffee exceeds its
marginal social benefit.

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