ontrol Variance Q Total Benefits BQ Total Cost CQ Net Benefits NQ Marginal Benefit MBQ Marginal Cost MCQ Marginal Net Benefit MNBQ 100 1200 950 210 60 101 1400 70 102 1590 80 103 1770 90 104 1940 100 105 2100 110 106 2250 120 107 2390 130
ontrol Variance Q Total Benefits BQ Total Cost CQ Net Benefits NQ Marginal Benefit MBQ Marginal Cost MCQ Marginal Net Benefit MNBQ 100 1200 950 210 60 101 1400 70 102 1590 80 103 1770 90 104 1940 100 105 2100 110 106 2250 120 107 2390 130
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
I have to complete the below table. I am struggling with the formulas to do so. How do I solve for Total Cost and Net Benefits here?
Control Variance Q |
Total Benefits BQ |
Total Cost CQ |
Net Benefits NQ |
Marginal Benefit MBQ |
Marginal Cost MCQ |
Marginal Net Benefit MNBQ |
100 | 1200 | 950 | 210 | 60 | ||
101 | 1400 | 70 | ||||
102 | 1590 | 80 | ||||
103 | 1770 | 90 | ||||
104 | 1940 | 100 | ||||
105 | 2100 | 110 | ||||
106 | 2250 | 120 | ||||
107 | 2390 | 130 |
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