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Fill in the blanks. When choosing the levels of two activities, A and B, in order to maximize total benefits within a given budget: a.
Fill in the blanks. When choosing the levels of two activities, A and B, in order to maximize
total benefits within a given budget:
a. If at the given levels of A and B, MB/P of A is ...... MB/P of B, increasing A and decreasing B while holding expenditure constant will increase total benefits.
b. If at the given levels of A and B, MB/P of A is .......... MB/P of B, increasing B and decreasing A while holding expenditure constant will increase total benefits.
c. The optimal levels of A and B are the levels at which ............. equals ...........
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