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Complete the following table and answer the accompanying questions. Marginal Net Benefit Total Cost C(O) 950 Net Benefits Marginal Marginal Cost Benefits N(9) Benefit MB

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Complete the following table and answer the accompanying questions. Marginal Net Benefit Total Cost C(O) 950 Net Benefits Marginal Marginal Cost Benefits N(9) Benefit MB (0) MC(Q) 210 60 MNB(Q) 70 80 90 Control Total Variable e Benefits B(A) 100 1,200 101 1,400 102 1,590 103 1,770 104 1,940 2,100 106 2,250 107 2,390 108 2,520 109 2,640 110 2,750 100 105 110 120 130 140 150 a. At what level of the control variable are net benefits maximized? 160 b. What is the relation between marginal benefit and marginal cost at this level of the variable? Marginal cost is much larger than marginal benefit. Marginal cost is much smaller than marginal benefit. Marginal cost is slightly smaller than marginal benefit. O Marginal cost is slightly larger than marginal benefit

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