The total benefit and total cost of a one- week vacation in a year for Fatima is given by the following values.

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Chapter1: Making Economics Decisions
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Question 1
The total benefit and total cost of a one-
week vacation in a year for Fatima is given
by the following values.
Total
Total
Marginal
Marginal
Benefit
Vacation
Net
Number
Benefit
Cost
Cost
Benefit
1
100
50
110
80
3
250
180
4
290
270
310
110
1. Fill in the rest of the table
2. What is the number of vacations that
maximizes Fatima's net benefit? Explain
your answer in details.
Transcribed Image Text:Question 1 The total benefit and total cost of a one- week vacation in a year for Fatima is given by the following values. Total Total Marginal Marginal Benefit Vacation Net Number Benefit Cost Cost Benefit 1 100 50 110 80 3 250 180 4 290 270 310 110 1. Fill in the rest of the table 2. What is the number of vacations that maximizes Fatima's net benefit? Explain your answer in details.
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