Question

After determining the marginal cost and the marginal benefit of an option, the next step is to _____ . be better or worse off from the decision consume an extra unit of a good or service decide which is greater: marginal cost or marginal benefit

Answer 1

DECIDE WHICH IS GREATER: MARGINAL COST OR MARGINAL BENEFIT.

Step-by-step explanation:

Answer 2

After determining the marginal cost and the marginal benefit of an option, the next step is to DECIDE WHICH IS GREATER: MARGINAL COST OR MARGINAL BENEFIT.

If the marginal benefit is greater than the marginal cost, then it is better to proceed with the option.

If the marginal cost is greater than the marginal benefit, then it is better to retain the status quo.