You are wasting resources that would be better spent elsewhere:Multiple choice question.if you continue producing when marginal benefit is less than marginal cost.if you continue producing when total benefit is less than total cost.if you continue producing when marginal benefit is greater than marginal cost.if you continue producing when marginal benefit is equal than profit.
Question
You are wasting resources that would be better spent elsewhere:Multiple choice question.if you continue producing when marginal benefit is less than marginal cost.if you continue producing when total benefit is less than total cost.if you continue producing when marginal benefit is greater than marginal cost.if you continue producing when marginal benefit is equal than profit.
Solution
You are wasting resources that would be better spent elsewhere if you continue producing when marginal benefit is less than marginal cost. This is because the marginal cost of production is the cost of producing one additional unit of a good or service. If the marginal benefit, or the additional benefit received from producing one more unit, is less than the marginal cost, then resources are being wasted. This is because the cost of producing the additional unit is not being covered by the benefit received from selling it.
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