Use the Following to Answer Question(s): Marginal Benefits and Marginal

question 181

Multiple Choice

Use the following to answer question(s) : Marginal Benefits and Marginal Costs

-(Exhibit: Marginal Benefits and Marginal Costs) In the exhibit, more time spent studying economics adds points to economics scores but subtracts points from accounting scores.The marginal benefit of studying economics when the student is at 2 hours is _______ points and the marginal cost is _______ points.

• A) 40; 0
• B) 30; 10
• C) 20; 20
• D) 10; 30

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Definitions:

Scarce Resources

Natural or human-made assets that are limited in availability, often leading to competition for their use or allocation.

Participatory Planning

A planning approach that involves stakeholders, especially those affected by decisions, in the decision-making process to ensure inclusivity and relevance.

Affected By

Influenced or changed by something; the state of being impacted by external factors or conditions.

Implement

To put into action or execute a plan, decision, or tool, especially in a practical context.