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Consider that the C & A Lawnmower Firm operates in a highly competitive industry. The MB(Q) = 100, which means that the price of each

Consider that the C & A Lawnmower Firm operates in a highly competitive industry.

The MB(Q) = 100, which means that the price of each service is $100. The estimate for the

total cost is given by C(Q) = 100,000 + 20Q + 0.1Q

. Use this information to answer the

following questions.

a.

What is net benefit maximizing level of output?

b.

What is the total benefit function?

c.

What is the maximum net benefit?

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