economics question benefits and costs

timer Asked: Feb 24th, 2015

Question description

1.  Assume Total Benefits and Total Costs are shown below:

Total Benefits:  B = 34233 + 50Q – 0.1Q2

Total Costs  C = 22 + 10Q

  i.  What is the Marginal Benefit function?

  ii.  What is the Marginal Cost function?

  iii.  What is the optimal level of Q for this person to consume?

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