Peyton Lopez will exploit the aquifer under his ranch as long as his personal marginal __________ is __________ __________ his personal marginal __________.
A)cost, greater than, benefit
B)benefit, greater than, cost
C)cost, equal to, benefit
D)benefit, less than, cost
E)benefit, equal to, cost

Question

Quizplus · Accepted Answer

According to the statement, Peyton Lopez will exploit the aquifer under his ranch as long as his personal marginal benefit is greater than his personal marginal cost. Therefore, option B is the correct choice.

Peyton Lopez Will Exploit the Aquifer Under His Ranch as Long