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Marginal Analysis
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Rachel Shafer
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7 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
What is the marginal benefit of one more gallon of gas, when you currently have 0 gallons?
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
What is the marginal benefit of one more gallon of gas, when you currently have 1 gallons?
3.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
What is the marginal benefit of one more gallon of gas, when you currently have 2 gallons?
4.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
What is the marginal benefit of one more gallon of gas, when you currently have 3 gallons?
5.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
What is the marginal benefit of one more gallon of gas, when you currently have 4 gallons?
6.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
The table shows your total benefits from consuming different quantities of gas each week.
The price of gasoline is $2.50/gallon.
Given this information, using the principle of Optimization at the Margin, the optimal number of gallons of gas to consume each week will be:
7.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
A deep-sea diver can sell each pearl he retrieves for $20 in the seaside market.
However, each time he dives in search of a pearl, it is harder to find than the one he found before. The table below describes the cost (in time and effort) of retrieving each successive pearl.
At what number of pearls harvested should the diver stop diving for more pearls?
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