What Is the Marginal Net Benefit of Producing the Fourth

question 74

Multiple Choice

What is the marginal net benefit of producing the fourth unit?

$\begin{array} { c c c } \text { No. Units Produced } & \text { Total Revenue } & \text {Total Costs } \\0 & 0 & 0 \\ 1 & 100 & 50 \\ 2 & 180 & 110 \\ 3 & 250 & 180 \\ 4 & 290 & 270 \\ 5 & 310 & 380 \end{array}$

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Definitions:

Resources

Assets or inputs used in the production of goods and services, such as labor, capital, and natural resources.

Opportunity Cost

The loss incurred by rejecting the immediate best alternative when arriving at a decision.

Fix A Meal

The process of preparing and cooking a meal.

Better Off

A term indicating an improvement in condition or well-being, often referring to economic improvement or increased welfare.