Determine what is the maximum level of net benefit

Assignment Help Econometrics

Reference no: EM13237751

Assume the only choice variable is x. The total benefit function is B(x) =170x - x2 and the cost function is C(x) = 100 - 10x + 2x2

a) What are the marginal benefit and marginal cost functions?

b) Set up the net benefit functionand then determine the level of x that maximizes net benefit

c) What is the maximum level of net benefit?

Reference no: EM13237751

Questions Cloud

Find the price and quantity that maximizes companies profit : Based on market research, a film production company in Ectenia obtains the following information about the demand and production costs of its new DVD: Demand: P=1000-10Q Total Revenue: TR=1000Q-10QZ

Which of the following innovations was developed first : Which of the following innovations was developed first?

With the introduction of christianity to areas like hibernia : With the introduction of Christianity to areas like Hibernia (ancient Ireland) and the British Isles, as well as to the Franks and later the Goths, almost immediately we see this new faith reflected in the works of these very different areas.

Explain what does the reveal about the original dry powder : It is then analyzed on the ICP. The ICP results show the liquid to be 64.8 PPM Na and 43.7 PPM P. What does this reveal about the original dry powder

Determine what is the maximum level of net benefit : Assume the only choice variable is x. The total benefit function is B(x) =170x - x2 and the cost function is C(x) = 100 - 10x + 2x2 a) What are the marginal benefit and marginal cost functions

What is deplicited in the movie restrepo : In thinking about the Cold war what are some similarties and differences between the conflicts and what is deplicited in the movie Restrepo?

Find what is l at the point of cost minimization : (a) Consider a firm with the following production function. Q = 2*L*L + K*K. The price of capital (K) is $100 and the price of labor (L) is $50. The marginal product of labor is 4L and marginal product of capital is 2K.

What was the bullets speed as it left the barrel? : A rifle is aimed horizontally at a target 50.0 m away, What was the bullet's flight time and What was the bullet's speed as it left the barrel

What is the profit maximizing condition if the market price : If the cost function for John's Shoe Repair is C(q) = 100+10q-q^2+(1/3)q^3, what is the firm's marginal cost function What is its profit maximizing condition if the market price is p What is its supply curve

User Account

All Pages