Question

marginal benefits and marginal costs exercise 1 (algo)
the table below describes the total and marginal benefit elvis gets from eating fried peanut butter and banana sandwiches.
elvis benefits of fried peanut butter and banana sandwiches
fried pbb sandwiches | total benefit (dollars) | marginal benefit (dollars)
1 | 57 | 57
2 | 98 | 41
3 | 110 |
4 | 115 |
5 | 110 | -5
instructions: enter your answer as a whole number.
what is the marginal benefit of the 4th fried peanut butter and banana sandwich?
$

Explanation:

Step1: Recall marginal benefit formula

Marginal Benefit of nth unit = Total Benefit of n units - Total Benefit of (n-1) units

Step2: Plug in values for 4th sandwich

Marginal Benefit = $115 - 110$

Answer:

5