Asked by Megan
Assume the only choice variable is total benefit function is B(x) = 170x-x², and cost function is C(x) = 100-10x + 2x².
a. What are the marginal benefit and marginal cost functions?
b. Set up the net benefit function and then determine the level x that maximises net benefit.
c. what is the maximum level of net benefit?
a. What are the marginal benefit and marginal cost functions?
b. Set up the net benefit function and then determine the level x that maximises net benefit.
c. what is the maximum level of net benefit?
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