To produce the profit-maximizing level of output and hire the optimal number of workers, and other resources, producers must compare the marginal benefits and marginal costs of producing a little more with the marginal benefits and marginal costs of producing a little less.
Standard detail
1.
Benchmark
Depth 1Parent ID: 25E9304E35A64210B2B6699B3420E52FStandard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 1.
- List ID
- 1.
- Standard ID
- E50698B7EF784615B88F5DD9256FE0D6
- ASN identifier
- S2604671
- Subject
- Economics
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 25E9304E35A64210B2B6699B3420E52F
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US