Question
Marginal cost is the additional cost imposed by the production of one additional item. Marginal benefit is the additional benefit of producing one additional item.
Marginal cost is the additional cost imposed by the production of one additional item. Marginal benefit is the additional benefit of producing one additional item. For a certain company, the marginal cost C, in dollars, of you are currently producing n items, is given by C(n) = 5 + n, and the marginal benefit B, in dollars, is given by B(n) = 25 * 0.9n. Economic efficiency occurs at the production level marginal cost and marginal benefit are the same. What production level n gives economic efficiency for this company? (Round the function values to one decimal place.)
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