What are the benefits of plotting the marginal benefit curve?
A marginal benefit is an additional satisfaction or utility that a person receives from consuming another unit of a good or service. The marginal benefit curve will represent the demand curve because both reflect the efficiency of consumption. Consumers will demand precisely XXXX XXXXX XXXXXXXXX XXXXX XXXXXXXX benefit of use. XXX XXXXXXXX benefit curve XX down-sloping, revealing that each XXXXXXXXXX XXXX of a good provides XXXX interest than XXX previous XXXXX.
XXXXXXXX XX XXXXXXXX XXXXXXXX XXXXXXX curve
Helps in XXXXXXXX Decisions Making
XXXX a business XXXXX's XXXXXXXXXXX, the marginal benefit XX the XXXXX XXXXXX you make XXXX producing more XXXXX, while XXXXXXXX cost is the XXXXXXX of providing XXXX. XXXX XXXXXXXXX influence XXXXX costs and benefits: XXXXXXX XXXX XXXX XXXX: A XXX product XXXX generates few XXXXX will have higher marginal XXXXX XXX each XXXX than XXXX it's XXXXXX XX, and you XXX XXXXXXXXXXX XXX XXXX in XXXX.
XXXXXXXX marginal XXXXXXX curve XXX XXXX in decision making in XXX XXXXXXXXX XXXX;
XXXXXXXXX the Highest XXX XXXXXXX
Suppose a company can measure XXX additional XXXXXXXX XXX costs of the XXXXX economic XXXXXXXX. XXX XXXXXX XX marginal analysis states XXXX whenever marginal XXXXXXX exceeds XXXXXXXX XXXX, a manager XXXXXX increase activity to XXXXX the XXXXXXX net XXXXXX. Likewise, if XXXXXXXX XXXX is XXXXXX XXXX XXXXXXXX benefit, action XXXXXX XX decreased.
XXXXXXXX XXXXXXXX and Opportunity Cost
Managers XXXXXX XXXX XXXXXXXXXX XXX XXXX of XXXXXXXXXXX cost. Suppose a XXXXXXX knows that there is room in the budget to hire an additional worker. XXXXXXXX analysis tells XXX manager XXXX XXXXXXX XXXXXXX worker provides XXX XXXXXXXX XXXXXXX. XX does XXX XXXXXXXXXXX XXXX XXX hire the XXXXX decision.
Suppose the XXXXXXX XXXX XXXXX XXXX XXXXXX an additional salesperson yields an even more XXXXXXXXXXX XXX XXXXXXXX XXXXXXX. XX this XXXX, XXXXXX a XXXXXXX XXXXXX is the XXXXX XXXXXXXX because it is sub-optimal.
Helps in making Changes
XXXXXXXX benefit XXXXX XX helpful XX XXXXXXXXXXX XXX businesses in balancing XXX costs and benefits of additional XXXXXXX XXXX XXXXXXX XX XXXXXXX more, consume more, XXX similar XXXXX decisions, thus determining whether the XXXXXXXX will XXXXXX XXXXX XXX increase utility.
Assists in XXXXXXXXXX XXXXXX XXXXXX
Moreover, XXX marginal XXXXXXX XXXXX XXX also beneficial to the government policymakers. Weighing the costs XXX benefits can XXXXXX XXXXXXXXXX officials in determining XXXXXXX allocating additional resources to a specific public program will XXXXXXXX extra profits for the general public.
References
Galus, X. D., &XXX; XXXXXXXXX, G. (XXXX). Demand XXXXXXXXXX of grid-XXXXXXXXX plug-in XXXXXX electric vehicles (XXXX). XXXX XXXXXX, XXXX, 1-8.
XXXXXXX, E. H., & Messonnier, X. X. (XXXX). XXXXXXXXX XXXXXXXX XXX XXXXXX care XXXXXXXX XXXXXXXXXX: XXXXXXXX XXXXX under variable XXXXXXX to XXXXX. XXXXXX economics, XX(X), 21-XX.
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