Specify and explain the shapes of the marginal-benefit and, Microeconomics

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Specify and explain the shapes of the marginal-benefit and

Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or less resources be allocated to this product? Explain.

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Microeconomics: Specify and explain the shapes of the marginal-benefit and

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Microeconomics: Specify and explain the shapes of the marginal-benefit and

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