Suppose the total benefit derived from a given decision, Q, is B(Q) = 25Q Q2 and
Question:
a. What is total benefit when Q = 2? Q = 10?
b. What is marginal benefit when Q = 2? Q = 10?
c. What level of Q maximizes total benefit?
d. What is total cost when Q = 2? Q =10?
e. What is marginal cost when Q = 2? Q = 10?
f. What level of Q minimizes total cost?
g. What level of Q maximizes net benefits?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
a Total benefit when Q 2 is B2 252 2 2 46 When Q 10 B10 2510...View the full answer
Answered By
Douglas Makokha
Unlock Academic Success with Dedicated Tutoring and Expert Writing Support!
Are you ready to excel in your academics? Look no further! As a passionate tutor, I believe that dedication and hard work are the keys to achieving outstanding results. When it comes to academics, I strive to provide nothing but the best for every student I encounter.
With a relentless thirst for knowledge, I have extensively researched numerous subjects and topics, equipping myself with a treasure trove of answers to tackle any question that comes my way. With four years of invaluable experience, I have mastered the art of unraveling even the most intricate problems. Collaborating with esteemed writers has granted me exclusive access to the trade secrets utilized by the industry's top professionals.
Allow me the pleasure of assisting you with your writing assignments. I thrive on challenges and will guide you through any obstacles you may face. Together, we will unlock your academic potential and pave the way for your success.
4.90+
60+ Reviews
345+ Question Solved
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
Question Posted:
Students also viewed these Economics questions
-
Suppose the total benefit derived from a continuous decision, Q, is B(Q) = 20Q 2Q2 and the corresponding total cost is C(Q) = 4 + 2Q2, so that MB(Q) = 20 4Q and MC(Q) = 4Q. a. What is total benefit...
-
Suppose the total benefit and total costs to society of various levels of pollution reduction are as follows: a. Complete Column (4). b. Use optimization in levels to show that if the US...
-
Suppose that c X and that f : E Y. a) Prove that f is continuous on E if and only if f-l (A) n is relatively closed in for all closed sets A in Y. b) Suppose that f is continuous on E. Prove that...
-
A heat engine operates between two reservoirs at 800 and 20C. One-half of the work output of the heat engine is used to drive a Carnot heat pump that removes heat from the cold surroundings at 2C and...
-
The Brazil vending machine dispenses coffee, and a random sample of 27 filled cups have contents with a mean of 7.14 oz and a standard deviation of 0.17 oz. Use a 0.05 significance level to test the...
-
Kristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows Logan to return any unused product within 30 days and receive a full refund. The cost of each...
-
What the paralegals role is in discovery?
-
Graphics Service Co. purchased a new color copier at the beginning of 2013 for $47,000. The copier is expected to have a five-year useful life and a $7,000 salvage value . The expected copy...
-
The following is Oriole Cycle Repair Shop's trial balance at January 31, 2024, the company's fiscal year end: ORIOLE CYCLE REPAIR SHOP Trial Balance January 31, 2024 Cash Accounts receivable Prepaid...
-
Akio consumes two goods, books and sweaters. His income is $24, the price of a sweater is $4, and the price of a book is $2. a. Suppose Akios parents give him $8 for his birthday. Draw Akios budget...
-
Jaynet spends $20,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firmone offer was for $100,000 per year, and the other was for...
-
An owner can lease her building for $100,000 per year for three years. The explicit cost of maintaining the building is $35,000, and the implicit cost is $50,000. All revenues are received, and costs...
-
Explain the difficulty in calculating the discount rate that should be applied to an options payoff in the real world.
-
Groupon is a deal-of-the-day Web site that is located in major geographic markets across the world. Launched in October 2008 by Andrew Mason, Groupon has been characterized as one of the...
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. There is an implied warranty of title with the sale of merchandise that means the seller...
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. An agent is reasonable in assuming that he or she has the authority that is related to...
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. A corporation usually has bylaws, which provide rules for the meetings of the corporation.
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. Courts have granted corporations similar constitutional rights to those granted to...
-
A mammalian embryo that is XY but is missing the SRY gene would be expected to develop into a. a male. b. a female. c. a hermaphrodite. d. none of the above because sex differentiation would not...
-
Trade credit from suppliers is a very costly source of funds when discounts are lost. Explain why many firms rely on this source of funds to finance their temporary working capital.
-
Solve Problems 6570 using GaussJordan elimination. X2 + X2 - X1 + 43 + 4 X3 -X1 + 2x1 + X3 + 3x4 2x1 + 5x2 + 11x3 + 3x4 1.3 1.1 = -4.4 5.6
-
The demand curve for product X is given by Qdx = 300 - 2Px. a. Find the inverse demand curve. b. How much consumer surplus do consumers receive when Px = $ 45? c. How much consumer surplus do...
-
Suppose demand and supply are given by Qd = 60 - P and Qs = P - 20. a. What are the equilibrium quantity and price in this market? b. Determine the quantity demanded, the quantity supplied, and the...
-
Suppose demand and supply are given by a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $ 12 excise tax is imposed on the good. Determine the new...
-
A 7 5 kg skydiver opens their parachue at 1 , 0 0 0 meters in the air. This causes them to slow down at a rate of 5 m / s ^ 2 Forces the object feels ( in Newtons ) Gravity: Air resistance: Normal...
-
GIve the definition of all the following : cultural values, personal values, ethical principles, autonomy, integrity, social justice, human dignity, nonmaleficence, beneficence, justice, and veracity...
-
Describe the marketing exchange relationship between United Way of Greater .Explain with examples.
Study smarter with the SolutionInn App