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Assume the following: B=20+48Q3Q 2 MB=486Q C=Q 2 MC=2Q. Answer the following questions. Find the Q that maximizes the benefit B. Find the Q that

Assume the following:

  • B=20+48Q3Q2
  • MB=486Q
  • C=Q2
  • MC=2Q.

Answer the following questions.

  1. Find the Q that maximizes the benefit B.
  2. Find the Q that maximizes the net benefit N.
  3. Why is the second one smaller than the first one? Give me an answer that a non-economist and non-mathematician can understand.

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