Suppose market demand for a good is = 100 - 2 and the marginal cost of supplying the good is = 40 + 8.

(a) (i) What is the MB of the 5th unit? (ii) What is the TB from 5 units? (iii) What is the MC of the 5th unit? (iv) What is the TC of 5 units? (v) What is the NB of 10 units? (vi) Which unit has MB of $40? Of $60? (vii) Which unit has MC of $40? Of $60? (viii) How much benefits would a 6th unit add to total benefits? (ix) How much cost would a 6th unit add to total cost?

(b) Calculate the following assuming the market acts competitively: market Q, market P, consumer surplus, producer surplus, net benefits.

(c) Repeat part b assuming the market is a monopoly.