Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 1 - Ten Principles of Economics - Problems and Applications - Page 18: 5

Answer

If it would cost $1 million to finish development and make the product, you should go ahead and do so. The most you should pay to complete the development is 3 million.

Work Step by Step

If it would cost $1 million to finish development and make the product, you should go ahead and do so. The most you should pay to complete the development is 3 million. This is because if you exceed 3 million dollars, you will lose money in the long run.
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