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Suppose the marginal benefit of writing a contract is $100, independent of its length. Find the optimal contract length when the marginal cost of writing

Suppose the marginal benefit of writing a contract is $100, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of lengthLis:

Instruction:Enter your responses rounded to two decimal places.

a.MC(L) = 35 + 5L.

b.MC(L) = 55 + 3L.

c. What happens to the optimal contract length when the marginal cost of writing a contract declines?

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