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Marginal Benefit |
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| Sep11-06, 06:29 PM | #1 |
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Marginal Benefit
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 |
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