Suppose that the total benefit and total cost from a continuous activity are, respectively given by...

 

Transcribed Image Text:

Suppose that the total benefit and total cost from a continuous activity are, respectively given by the following equations: B(Q) = 14.3 + 13.8Q-3Q2 and C(Q) = 7.1 +1.8Q. Write each function in terms of Q. a) Find marginal costs, MC(Q): b) Find marginal benefit, MB(Q) = c) What are the marginal benefits at Q = 5, i.e. MB(5) d) Find the net benefits NB(Q) = = e) Find the marginal het benefits MNB(Q) = f) What are the marginal net benefits at Q = 5, i.e. MNB(5) = g) What value of Q maximizes net benefits? = h) What is the highest possible net benefit? That is, what is value of net benefits at the optimum quantity? NB(Q*) = Suppose that the total benefit and total cost from a continuous activity are, respectively given by the following equations: B(Q) = 14.3 + 13.8Q-3Q2 and C(Q) = 7.1 +1.8Q. Write each function in terms of Q. a) Find marginal costs, MC(Q): b) Find marginal benefit, MB(Q) = c) What are the marginal benefits at Q = 5, i.e. MB(5) d) Find the net benefits NB(Q) = = e) Find the marginal het benefits MNB(Q) = f) What are the marginal net benefits at Q = 5, i.e. MNB(5) = g) What value of Q maximizes net benefits? = h) What is the highest possible net benefit? That is, what is value of net benefits at the optimum quantity? NB(Q*) = Suppose that the total benefit and total cost from a continuous activity are, respectively given by the following equations: B(Q) = 14.3 + 13.8Q-3Q2 and C(Q) = 7.1 +1.8Q. Write each function in terms of Q. a) Find marginal costs, MC(Q): b) Find marginal benefit, MB(Q) = c) What are the marginal benefits at Q = 5, i.e. MB(5) d) Find the net benefits NB(Q) = = e) Find the marginal het benefits MNB(Q) = f) What are the marginal net benefits at Q = 5, i.e. MNB(5) = g) What value of Q maximizes net benefits? = h) What is the highest possible net benefit? That is, what is value of net benefits at the optimum quantity? NB(Q*) = Suppose that the total benefit and total cost from a continuous activity are, respectively given by the following equations: B(Q) = 14.3 + 13.8Q-3Q2 and C(Q) = 7.1 +1.8Q. Write each function in terms of Q. a) Find marginal costs, MC(Q): b) Find marginal benefit, MB(Q) = c) What are the marginal benefits at Q = 5, i.e. MB(5) d) Find the net benefits NB(Q) = = e) Find the marginal het benefits MNB(Q) = f) What are the marginal net benefits at Q = 5, i.e. MNB(5) = g) What value of Q maximizes net benefits? = h) What is the highest possible net benefit? That is, what is value of net benefits at the optimum quantity? NB(Q*) =

Answer rating: 100% (QA)

a The marginal cost MC is the derivative of the total cost C with respect to Q CQ 71 18Q MCQ dCQdQ 1... View the full answer