Suppose That for Jim the Marginal Benefit (MB)of Producing Is

question 1

Multiple Choice

Suppose that for Jim the marginal benefit (MB) of producing is $60 and that the marginal cost (MC) of producing is $10.Suppose also that his marginal benefit of stealing is $50 and the marginal cost of stealing is $10.Is Jim currently maximizing utility in terms of producing and stealing? If not,should he produce more and steal less,or produce less and steal more to move toward utility maximization?

• A) Yes,Jim is maximizing utility.
• B) No,Jim is not maximizing utility.Since the MB/MC ratio for producing is less than the MB/MC ratio for stealing,Jim should produce more and steal less.
• C) No,Jim is not maximizing utility.Since the MB/MC ratio for producing is greater than the MB/MC ratio for stealing,Jim should produce more and steal less.
• D) No,Jim is not maximizing utility.Since the MB/MC ratio for producing is greater than the MB/MC ratio for stealing,Jim should steal more and produce less.

---

Definitions:

Mobilization

The act of assembling and making both troops and supplies ready for war, or more broadly, preparing and organizing resources for any purpose.

Communication

Communication is the process of transferring information from one person or group to another through verbal, non-verbal, written, or digital means.

Explorative

Characterized by a desire or tendency to investigate and learn about something new.

Rhythmic Cry

refers to a patterned, predictable crying sound in infants, which can indicate distress or different emotional states.