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Homework answers / question archive / When the output level changes, the marginal benefit and marginal cost of the product change as well
When the output level changes, the marginal benefit and marginal cost of the product change as well. Assume that a government is considering undertaking one or more considerations with the costs and benefits of each project given below.
| Project | Marginal Cost (in Millions) | Marginal Benefit (in Millions) |
| 1 | $8 | $11 |
| 2 | $11 | $13 |
| 3 | $18 | $17 |
| 4 | $28 | $23 |
What is the total cost of project 1, 2, and 3?
A) $18 Million
B) $24 Million
C) $37 Million
D) $65 Million
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