Complete the following table and answer the accompanying questions. a. At what level of the control variable

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Complete the following table and answer the accompanying questions.

a. At what level of the control variable are net benefits maximized?

b. What is the relation between marginal benefit and marginal cost at this level of the control variable?

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Managerial Economics and Business Strategy

ISBN: 978-0071267441

7th Edition

Authors: Michael R. baye

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Question Posted: Nov 15, 2011 10:49 AM

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Complete the following table and answer the accompanying questions. a. At what level of the control variable

Question:

Marginal Control Total Total Nat Banefits Marginal Benefit Marginal Net Variable Benefits Cost Cost Benefit B(Q) NQ) MB(Q) MCQ) MNB(Q) 100 1200 950 210 40 101 1400 50 102 1590 60 103 1770 70 104 1940 80 105 2100 90 106 2250 100 107 2390 110 108 2520 120 109 2640 130 110 2750 140

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Managerial Economics and Business Strategy

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