If the marginal benefit of an activity exceeds the marginal cost of the activity (MB > MC), we shouldMultiple choice question.continue to increase output until MB < MC.continue to decrease output until MB = MC.continue to increase output until MB = MC.discontinue production of output altogether.

You are wasting resources that would be better spent elsewhere:Multiple choice question.if you continue producing when marginal benefit is less than marginal cost.if you continue producing when total benefit is less than total cost.if you continue producing when marginal benefit is greater than marginal cost.if you continue producing when marginal benefit is equal than profit.

Multiple Choice QuestionWhich of the following is true about the marginal productivity of any resource?Multiple choice question.It will decrease with the quantities of other resources used with itIt will vary with the quantities of other resources used with itIt will increase with the quantities of other resources used with itIt will stay constant with the quantities of other resources used with it

he algebraic expression MR=MC suggests thatGroup of answer choicesmarginal profit is decreasing.marginal profit is increasing.marginal profit is maximum.marginal profit is zero.

A person should consume that precise amount of something when its marginal (1 Point)cost is less than its marginal benefit.benefit equals its marginal cost.benefit is positive.cost exceeds its marginal benefit.

If a monopolist produces a quantity that generates MC < MR, then profit:Question 6Answera.can be increased by decreasing output.b.is maximized only if MC = P.c.is maximized.d.can be increased by increasing output.