EconMovies Episode #2 Monty Python and The Holy Grail Marginal Analysis.docx

Karen Medina
08/30/20
P: 5
EconMovies Episode #2: Monty Python and The Holy Grail Marginal Analysis
Part 1 - Key Terms- Define the following terms.
Part 2- Practice- Assume that The Knights of the Round Table are deciding to purchase shields. Their total
benefit (measured in dollars) is given in the table.
4. What is the marginal benefit for the 2nd shield?
5. What is the marginal benefit of the 6th shield?

6. Notice that the marginal benefit of each additional shield decreases. Explain why this would likely
happen in real life.