-Refer to the Figure Above

question 17

Multiple Choice

-Refer to the figure above. At the 50th unit of action, which of the following is true?

• A)Marginal benefit exceeds marginal cost.
• B)Marginal cost exceeds marginal benefit.
• C)Total gains are maximized.
• D)Total losses are minimized.

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Definitions:

Net Realizable Value

The estimated selling price of goods, minus the cost of their sale or completion.

Exit Value

The estimated amount that an asset or investment could be sold for at the end of its useful life.

Economic Resource

Assets or inputs that have the potential to contribute to the production of goods and services, providing economic benefit to businesses or individuals.

Asset

Resources owned or controlled by a business, projected to bring future economic benefits.