Say that you are a manager with the Transportation Security Administration (TSA). The table below shows fictional estimates of themarginal benefit and marginal cost of additional TSA security lines at Mahlon Sweet Field, the airport in Eugene, Oregon.Number ofMarginalIn this space, draw the graph of the marginaldata from the left columns.Answer these questions below using the datatable and graph.Benefit3.SecurityLines123456$10,0009,0007,0005,0004,0003,000MarginalCost$2,0003,0004,0005,0008,00012,000The surplus of the marginal benefit over costfor the second security line is $and $for the third security line. Ifyour goal is to maximize total surplus, youWILL / WILL NOT (circle one) operate a thirdsecurity line.The optimal number of TSA security lines isbecause this is where the marginalequals the marginalwhich maximizes total

The extra benefit which consumers receive by consuming an extra unit of a good is called marginal…

3. Number of Security Lines 1 2 3 4 Say that you are a manager with the Transportation Security Administration (TSA). The table below shows fictional estimates of the marginal benefit and marginal cost of additional TSA security lines at Mahlon Sweet Field, the airport in Eugene, Oregon. Answer these questions below using the data table and graph. 5 6 Marginal Benefit $10,000 9,000 7,000 5,000 4,000 3,000 Marginal Cost $2,000 3,000 4,000 5,000 8,000 12,000 In this space, draw the graph of the marginal data from the left columns. The surplus of the marginal benefit over cost for the second security line is $ and $ for the third security line. If your goal is to maximize total surplus, you WILL / WILL NOT (circle one) operate a third security line. The optimal number of TSA security lines is because this is where the marginal equals the marginal which maximizes total

3. Number of Security Lines 1 2 3 4 Say that you are a manager with the Transportation Security Administration (TSA). The table below shows fictional estimates of the marginal benefit and marginal cost of additional TSA security lines at Mahlon Sweet Field, the airport in Eugene, Oregon. Answer these questions below using the data table and graph. 5 6 Marginal Benefit $10,000 9,000 7,000 5,000 4,000 3,000 Marginal Cost $2,000 3,000 4,000 5,000 8,000 12,000 In this space, draw the graph of the marginal data from the left columns. The surplus of the marginal benefit over cost for the second security line is $ and $ for the third security line. If your goal is to maximize total surplus, you WILL / WILL NOT (circle one) operate a third security line. The optimal number of TSA security lines is because this is where the marginal equals the marginal which maximizes total

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter16: Information, Risk, And Insurance

Section: Chapter Questions

Problem 10RQ: In an insurance system, would you expect each person to receive in benefits pretty much what they...

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