Asked by Katina Zhu [STUDENT] on May 12, 2024
Verified
From a strictly economic perspective, immigration should be
A) expanded until its marginal benefits equal its marginal costs.
B) expanded until its total benefits equal its total costs.
C) expanded as long as its marginal costs exceed its marginal costs.
D) reduced if its marginal benefits exceed its marginal costs.
Marginal Benefits
The additional advantage or gain derived from receiving or consuming one additional unit of a product or service.
Marginal Costs
The added cost involved in producing another unit of a product or service.
- Determine the best approaches for maximizing the economic net gains from immigration.
Verified Answer
DW
Diamond WilliamsMay 14, 2024
Final Answer :
A
Explanation :
From an economic standpoint, the optimal point for any activity, including immigration, is reached when its marginal benefits equal its marginal costs. This ensures that the activity is maximized to the point where the last unit provides as much benefit as it costs, without going over into a zone where the costs would start to outweigh the benefits.
Learning Objectives
- Determine the best approaches for maximizing the economic net gains from immigration.