Suppose the total benefit derived from a given decision, $Q,$ is $B(Q)=20Q-2Q^2$ and the corresponding total cost is $C(Q)=4+2Q^2,$ so that $MB(Q)=20-4Q$ and $MC(Q)=4Q.$

Instruction: Use a negative sign $(-)$ where appropriate,

a$.$ What is total benefit when $Q=2?Q=10?$

When $Q=2$ :

When $Q=10$ :

b$.$ What is marginal benefit when $Q=2?Q=10?$

When $Q=2$ : $[$

When $Q=10$ :

c$.$ What level of $Q$ maximizes total benefit?

d$.$ What is total cost when $Q=2?Q=10?$

When $Q=2$ :

When $Q=10$ : $[$

e$.$ What is marginal cost when $Q=2?Q=10?$

When $Q=2$ :

When $Q=10$ :

f$.$ What level of $Q$ minimizes total cost?

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