1. (30 points)

(a)Complete the table below. Clearly show the calculation for each missing data point in each column.

CHART:

Control Variable Q= Total Benefits TB(Q)=Total Cost TC(Q)=Net Benefits NB(Q)= Marginal Benefits MB(Q)=Marginal Cost MC(Q)=Marginal Net Q

100 1200 900 - 257.5 70 -

104 2110 - - - 90 -

108 2900 - - - 110 -

112 3570 - - - 130 -

114 3875 - - - 140 -

115 4020 - - - 145 -

116 4157.5 - - - 150 -

120 4587.5 - - - 170 -

CHART:

(a)From the table in (a), determine the net benefits maximizing level of the control variable Q.