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14 November, 22:42

Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and trimming is $15, and he charges $25 for this service. For a total price of $40, Lionel will also trim shrubs, a service that adds an additional$10 to the total cost of the standard package. What is Lionel's marginal benefit if he sells thestandard package? A) $10B) $15C) $25D) $40

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  1. 15 November, 00:21
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    Option "B" is the correct answer to the following statement.

    $15

    Explanation:

    Marginal revenue is the extra revenue produced from increasing sales of a single unit of the commodity. Marginal benefit is the income received by a business or entity when the creation and distribution of one extra or marginal product.

    Marginal Benefit = New revenue - Old revenue

    = ($40) - ($25)

    =$15

    So, the Marginal Benefit for Lionel's Lawn Care is $15.
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