3. Lucio Tan, a wellknown business magnate has outsourced a marketing research specialist for his firm. The said specialist has estimated that his firm's total revenues to be: mo} = 3,oooo so2 and his total costs to be [{Q} = IUD + 21212. What level of Q maximizes net benefits? What is marginal benefit at this level of Q? What is marginal cost at this level of Q? What is the maximum level of net benefits? rue-n?! What is another word for net benefits in this example? 4. Suppose that the total benefit (TB) and total cost (TC) from a continuous activity are, respectively given by the following equations: B(Q) = 100 + 36Q - 40 and C(Q) = 80 + 12Q [Note: MB(Q) = 36 - 80 and MC(Q) = 12]. a. Write out the equation for the net benefits. b. What are the net benefits when Q = 1? Q = 5? c. Write out the equation for the marginal net benefits. d. What are the marginal net benefits when Q = 1? Q = 5? e. What level of Q maximizes net benefits? f. At the value of Q that maximizes net benefits, what is the value of the marginal net benefits