This question is about China’s economy growth,China is basically rely on Labor-saving growth, but there will be a labor surplus, to deal with the
September 3, 2020
Price (Per Bag) Efficiency loss from underproduction Quantity (Bags) Price (Per Bag) (b) Efficiency loss from overproduction C’1 Quantity (Bags)
September 3, 2020

Complete the accompanying table and answer the accompanying questions. (LOI, L06, L07) a. At what level of the control variable are net benefits maximized? b. What is the relation between marginal benefit and marginal cost at this level of

the variable?

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Marginal Control Total Total Net Marginal Marginal Net Variable Benefits Cost Benefits Benefit Cost Benefits Q 8(0) C(Q) N(O) MNB(Q)

100 1200 950 210 60 101 1400 70 102 1590 80 103 1770 90 104 1940 100 105 2100 110 106 2250 120 107 2390 130 108 2520 140 109 2640 150 110 2750 160

KM
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