A student athlete is deciding whether to work out for an extra hour. Her marginal benefit from another hour of exercise
A) is the benefit she gets from all the hours she's worked out all week.
B) is the benefit she receives from exercising the additional hour.
C) is less than the marginal cost of the additional hour.
D) depends on the cost of the workout.
B
Economics
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In each of the following cases, identify whether a competitive firm's producer surplus will increase, decrease, or remain unchanged
i. The demand for the product increases ii. The firm's marginal cost of production increases iii. The market price of the product falls
Economics
Comment on the following statement: "For a monopolist, marginal revenue is always equal to price."
What will be an ideal response?
Economics