Use the Following to Answer Question

question 114

Multiple Choice

Use the following to answer question:
-(Figure: Marginal Benefits and Marginal Costs) Use Figure: Marginal Benefits and Marginal Costs.More time spent studying economics adds points to economics scores (MB) but subtracts points from accounting scores (MC) .When Claudia studies economics for four hours,the marginal benefit is _____ points;when she studies for 6 hours,the marginal benefit is _____ points.

• A)20;10
• B)30;10
• C)20;0
• D)20;30

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Definitions:

Cross-Elasticity Data

Information that measures how the quantity demanded of one good changes in response to a price change of another good.

Product Variant

A version of a product that differs in certain characteristics from other versions in the same product line.

Product Type

Categories into which goods or services are grouped based on similar characteristics, functions, or intended uses by consumers.

Market Definition

The process of outlining the boundaries of a market including its scope, products, and services, to understand the competitive landscape.