The marginal benefit from a good is the OA. opportunity cost of producing B. benefit received from consuming one more unit of the good. Draw three points. Plot the marginal benefit when the quantity of sunscreen is 10, 25, and 40 gallons. Draw the marginal benefit curve. Label it MB. When Yucatan achieves allocative efficiency, marginal benefit equals pounds of food per month.
The marginal benefit from a good is the OA. opportunity cost of producing B. benefit received from consuming one more unit of the good. Draw three points. Plot the marginal benefit when the quantity of sunscreen is 10, 25, and 40 gallons. Draw the marginal benefit curve. Label it MB. When Yucatan achieves allocative efficiency, marginal benefit equals pounds of food per month.
Chapter6: Population Health
Section: Chapter Questions
Problem 8QAP
Related questions
Question
![The table shows Yucatan's preferences. The marginal cost of producing a gallon of sunscreen is 4
pounds of food per month.
Sunscreen
(gallons per month)
10
25
40
and
and
and
Willingness to pay
(pounds of food per gallon)
6
4
2
the good.
The marginal benefit from a good is the
A. opportunity cost of producing
B. benefit received from consuming one more unit of
Draw three points. Plot the marginal benefit when the quantity of sunscreen is 10, 25, and 40 gallons.
Draw the marginal benefit curve. Label it MB.
When Yucatan achieves allocative efficiency, marginal benefit equals
pounds of food per month.
C
7.0-
6.0-6.0
5.0-
4.0-4.0
3.0-
Willingness to pay (pounds of food per gallon)
2.0-2.0
1.0-
0.04
0
10
10
$25
20
MB
$40
30
Sunscreen (gallons per month)
>>> Draw only the objects specified in the question.
40
Ⓡ
Q
50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb6e5835c-1f3a-446b-8a27-7dc8f8be9e19%2F70dc0fa3-5b28-424f-9566-885f11db4e71%2Fh4ys1xj_processed.png&w=3840&q=75)
Transcribed Image Text:The table shows Yucatan's preferences. The marginal cost of producing a gallon of sunscreen is 4
pounds of food per month.
Sunscreen
(gallons per month)
10
25
40
and
and
and
Willingness to pay
(pounds of food per gallon)
6
4
2
the good.
The marginal benefit from a good is the
A. opportunity cost of producing
B. benefit received from consuming one more unit of
Draw three points. Plot the marginal benefit when the quantity of sunscreen is 10, 25, and 40 gallons.
Draw the marginal benefit curve. Label it MB.
When Yucatan achieves allocative efficiency, marginal benefit equals
pounds of food per month.
C
7.0-
6.0-6.0
5.0-
4.0-4.0
3.0-
Willingness to pay (pounds of food per gallon)
2.0-2.0
1.0-
0.04
0
10
10
$25
20
MB
$40
30
Sunscreen (gallons per month)
>>> Draw only the objects specified in the question.
40
Ⓡ
Q
50
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