This is not a homework forum, and, even if it were, you haven't effectively communicated what the problem question is( I presume it's a basic cost-benefit analysis problem).
person loves race car driving so much he is going to the Indianpolis 500. He said he loves it so much the cost is feels like nothing. He leaves from NC, stays 5 days, 4 nights and goes to the races. Using marginal cost(MC) and marginal benefit(MB)describe whether his statement could be true.
I know MC is additional unit of output is the cost of the additional inputs needed to produce that output
And MB is change in an activity's overall benefit caused by a unit increase or decrease in the level of that activity
costs are: gas, hotel expenses, and price of ticket, I donít think food should be included b/c the person would still have to eat
And benefits are enjoyingment
Can someone please help me come up with a clear answeralso the if the person sees multiple races(i assume this b/c he would say 5 days) the tickets may vary and if the MB<MC the person should not buy the ticket
im having trouble put together a clear answer can someone help me do that please!
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