9. Suppose that the total benefit derived from a given decision Q is: B(Q)=25Q - Q² and the corresponding total cost is: C(Q) = 5+Q² a. MB (Q) = b. MC(Q) = c. What is the total benefit when Q-2? Q-10? d. What is the marginal benefit when Q-2? Q-10? e. What level of Q maximizes total benefits? f. What is the total cost when Q-2? Q-10? g. What is the marginal cost when Q-2? Q-10? h. What level of Q minimizes total cost? i. What level of Q maximizes net benefits?

9. Suppose that the total benefit derived from a given decision Q is: B(Q)=25Q - Q² and the corresponding total cost is: C(Q) = 5+Q² a. MB (Q) = b. MC(Q) = c. What is the total benefit when Q-2? Q-10? d. What is the marginal benefit when Q-2? Q-10? e. What level of Q maximizes total benefits? f. What is the total cost when Q-2? Q-10? g. What is the marginal cost when Q-2? Q-10? h. What level of Q minimizes total cost? i. What level of Q maximizes net benefits?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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