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The following graph input tool shows the marginal benefit (MB) and marginal cost (MC) curves for soccer balls in an economy. At 15 million soccer
The following graph input tool shows the marginal benefit (MB) and marginal cost (MC) curves for soccer balls in an economy. At 15 million soccer balls, expected marginal benefits are equal to expected marginal costs, E(MB) = E(MC). Use the graph input tool to answer the questions that follow. You will not be scored on any adjustments made to the graph input tool. PRICE (Dollars per soccer ball) 30 27 24 21 18 15 12 MC MB -. l | l | . | l l | i 0 3 6 9 12 15 18 21 24 27 30 QUANTITY (Millions of soccer balls per year) / \\ Graph Input Tool of?) Quantity (Millions of soccer balls) Expected MB 15 Expected MC 15 (Dollars per soccer (Dollars per soccer ball) ball) Complete the following table by determining the relationship between the expected MB and the expected MC at each of the two quantities and what this means for society. (Hint: Be sure to use a negative sign if the net benet is negative.) Quantity (Millions Marginal of balls) Comparison Net Benefit What Does This Mean? 12 4 18 4
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