Question: Suppose the total benefit derived from a given decision, O, is B(Q) = 250 - O' and the corresponding total cost is C(O) = 5

Suppose the total benefit derived from a given decision, O, is

Suppose the total benefit derived from a given decision, O, is B(Q) = 250 - O' and the corresponding total cost is C(O) = 5 + 0', so that MB(Q) = 25 - 20 and MC(Q) = 20. a. What is total benefit when O = 2? O = 10? b. What is marginal benefit when O = 2? O = 10? c. What level of Q maximizes total benefit? d. What is total cost when O = 2? O = 10? e. What is marginal cost when O = 2? O = 10? f. What level of Q minimizes total cost? g. What level of Q maximizes net benefits

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