a)How are marginal cost and marginal benefits related to total cost and total benefit curves? Illustrate your answer using carefully labeled diagrams.
b)Illustrate the optimal choice of an activity using both a total cost and total benefit curve diagram and a MC and MB curve diagram.

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The Answer of a)How are marginal cost and marginal benefits related to total cost and total benefit curves? Illustrate your answer using carefully labeled diagrams.
b)Illustrate the optimal choice of an activity using both a total cost and total benefit curve diagram and a MC and MB curve diagram.

A)How Are Marginal Cost and Marginal Benefits Related to Total