Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Marginal benefit

  1. Sep 11, 2006 #1


    User Avatar

    i know this is not exactly where you post help questions but i really need it.
    heres my questions.

    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. I am trying to draw the marginal benefit curve.
    If you need more points, then tell me and i will post them.
  2. jcsd
  3. Sep 11, 2006 #2
    Are you given a utility function? or a table with any utility data for a given amount of consumption?
Share this great discussion with others via Reddit, Google+, Twitter, or Facebook