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Sam likes eating ice-cream. Below is the marginal benefit (MB). He will derive from the consumption of an additional n-th unit of ice-cream. n MB($)
Sam likes eating ice-cream. Below is the marginal benefit (MB). He will derive from the consumption of an additional n-th unit of ice-cream.
n MB($)
1 58
2 45
3 34
4 26
5 14
6 5
Based on the above information, answer the following two questions
(1) What is the total benefit from the consumption of 4 units of ice-cream ?
(2) What is the average benefit from the consumption of 4 units of ice-cream in dollars per unit ?
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