This Graph Shows the Marginal Cost and Marginal Benefit Associated

question 13

Multiple Choice

This graph shows the marginal cost and marginal benefit associated with roadside litter clean up. Assume that the marginal benefit curve and marginal cost curve each have their usual slope. The socially optimal number of bags of litter removed from the roadside each day is:

• A)10.
• B)15.
• C)20.
• D)30.

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Definitions:

Price Variance

The difference between the actual cost of a good or service and its expected cost, often used in budgeting and financial analysis.

Materials Price Variance

The difference between the actual cost of direct materials and the standard cost, used in variance analysis.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected amount, which can impact the cost of goods sold.

Material J

Material J refers to a specific category or type of raw material or input identified with the letter "J" used in manufacturing or production processes.