Suppose your total benefit from eating slices of pizza (value in dollars) iswhere x is the number of slices of pizza.Pizza is sold by the slice and costs $2 per slice, and so the total cost of pizza is 2x.Using optimization in levels, what is the optimal amount of pizza for you to eat?Your net benefit is maximized at slices of pizza. (Enter your response as an integer.)12x-x²

Answered: ur net benefit is maximized at slices…

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ur net benefit is maximized at slices of pizza. (Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose your total benefit from eating slices of pizza (value in dollars) is
where x is the number of slices of pizza.
Pizza is sold by the slice and costs $2 per slice, and so the total cost of pizza is 2x.
Using optimization in levels, what is the optimal amount of pizza for you to eat?
Your net benefit is maximized at slices of pizza. (Enter your response as an integer.)
12x-x²

Expert Solution

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Optimisation in levels is the optimal amounts to get maximum profit or maximum consumption of a good and service.

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