The figure above shows Kaley's marginal benefit from swimming with manatees and Scott's marginal cost of providing manatee swimming tours. At 1 manatee swim per week, Kaley's marginal benefit is ________ and Scott's marginal cost is ________.

Question

BlackTom AI · Accepted Answer

Interpreting the graph given, we can read off the marginal values at the point where Kaley provides 1 manatee swim per week.
First, observe the downward-sloping MB curve labeled MB that runs from (0,50) to (5,0). This means MB decreases by 10 dollars for each additional swim per week. At x = 1 swim per week, the MB value is 50 − 10 = 40 dollars.
Next, examine the upward-sloping MC curve labeled MC that runs from (0,0) to (5,50). This indicates MC increases by 10 dollars for each additional swim per week. At x = 1 swim per week, the MC value is 0 + 10 = 10 dollars.
Therefore, Kaley’s marginal benefit at 1 swim per week is 40 dollars, and Scott’s marginal cost at 1 swim per week is 10 dollars.
In summary, the pair read directly from the graph at the 1-swim-per-week point is MB = 40 and MC = 10, which corresponds to the provided option "$40; $10".
If there were other choices, they would misstate either the benefit or the cost at this quantity, contradicting the linear readings from the plotted lines.

ECON 215-002 HOMEWORK 6

The figure above shows Kaley's marginal benefit from swimming with manatees and Scott's marginal cost of providing manatee swimming tours. At 1 manatee swim per week, Kaley's marginal benefit is and Scott's marginal cost is .

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