F.B
Sep11-06, 06:29 PM
I just started learning microeconomics and i am already confused. I was reading production possibility frontiers and how marginal cost and marginal benefit are related. I know that marginal cost is the slope of the PPF, and by doing this i get graph a marginal cost curve, but how do i calculate marginal benefits. I'll put some numbers.
Point A is (0, 15) and Point B is (1,14)
Marginal cost= 14-15/1-0 = -1
Now how do i find marginal benefit at these two points.
If you need more points tell me and i will post them
Point A is (0, 15) and Point B is (1,14)
Marginal cost= 14-15/1-0 = -1
Now how do i find marginal benefit at these two points.
If you need more points tell me and i will post them