9. Suppose that the total benefit derived from a given decision Q is: B(Q)=25Q - Q² and the corresponding total cost is: C(Q) = 5+Q² a. MB (Q) = b. MC(Q) = c. What is the total benefit when Q-2? Q-10? d. What is the marginal benefit when Q-2? Q-10? e. What level of Q maximizes total benefits? f. What is the total cost when Q-2? Q-10? g. What is the marginal cost when Q-2? Q-10? h. What level of Q minimizes total cost? i. What level of Q maximizes net benefits?
9. Suppose that the total benefit derived from a given decision Q is: B(Q)=25Q - Q² and the corresponding total cost is: C(Q) = 5+Q² a. MB (Q) = b. MC(Q) = c. What is the total benefit when Q-2? Q-10? d. What is the marginal benefit when Q-2? Q-10? e. What level of Q maximizes total benefits? f. What is the total cost when Q-2? Q-10? g. What is the marginal cost when Q-2? Q-10? h. What level of Q minimizes total cost? i. What level of Q maximizes net benefits?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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(F),(g),(h),(I)
![9. Suppose that the total benefit derived from a given decision Q is:
B(Q) = 25Q-Q²
and the corresponding total cost is:
C(Q) = 5+Q²
a. MB (Q) =
b. MC(Q) =
c. What is the total benefit when Q=2? Q = 10?
d. What is the marginal benefit when Q=2?Q=10?
e. What level of Q maximizes total benefits?
f. What is the total cost when Q-2? Q-10?
g. What is the marginal cost when Q-2? Q-10?
h. What level of Q minimizes total cost?
i. What level of Q maximizes net benefits?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F36140b03-f341-4c4d-9bde-da05bb41382f%2F1eb7ec26-2401-486e-a5ba-0b22e4280a06%2Fp86uhmp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:9. Suppose that the total benefit derived from a given decision Q is:
B(Q) = 25Q-Q²
and the corresponding total cost is:
C(Q) = 5+Q²
a. MB (Q) =
b. MC(Q) =
c. What is the total benefit when Q=2? Q = 10?
d. What is the marginal benefit when Q=2?Q=10?
e. What level of Q maximizes total benefits?
f. What is the total cost when Q-2? Q-10?
g. What is the marginal cost when Q-2? Q-10?
h. What level of Q minimizes total cost?
i. What level of Q maximizes net benefits?
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