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Unformatted text preview: T , or: Marginal benefit = T B = a , where a is the slope of the line relating B to T . More generally, suppose that B is any positive function of time spent: B = b ( T ). In this case, the marginal benefit is given by the derivative of B with respect to T : Marginal benefit = T B d d = b ( T ). When evaluated at time T , b ( T ) is the slope of the line tangent to b ( T )....
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This note was uploaded on 05/03/2010 for the course ECON econ203 taught by Professor Shivaggo during the Spring '10 term at Columbia College.
- Spring '10