Question

1) For each of the following situations involving marginal cost (MC)
and marginal benefit (MB), indicate whether it would be best to
produce more, fewer, or the current number of units.
a. 3,000 units at which MC = $10 and MB = $13.
b. 11 units at which MC = $4 and MB = $3.
c. 43,277 units at which MC = $99 and MB = $99.
d. 82 units at which MC < MB.
e. 5 units at which MB < MC.

2)Explain how (if at all) each of the following events affects the
location of a country's production possibilities curve: L01.6
a. The quality of education increases.
b. The number of unemployed workers increases.
C. A new technique improves the efficiency of extracting
copper from ore.
d. A devastating earthquake destroys numerous production
facilities.​

Answer 1

Answer:

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