Formulas for marginal benefit and marginal cost

Assignment Help Business Economics

Reference no: EM13851211

Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B (H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB (H)=420-80H and MC(H)=100+240H. What is your best choice? With the solution.

Reference no: EM13851211

Questions Cloud

Created using marketing and supply chain strategies : Please explain how the value is created using marketing and supply chain strategies by the dealer/retailer in this supply chain, Lowe's Companies.

The average corn price received by farmers : The average corn price received by farmers in 1950 was $1.52 and in 2014 it was $4.11. The Consumer Price. Index (CPI) with a base period of 1982 through 1984 were 24.1 and 236.7 for the same years, respectively. What are the corn prices for those ye..

Firm faces considerable revenue uncertainty : Your firm faces considerable revenue uncertainty because you have to negotiate contracts with several customers. Use Excel to set up a decision tree for your profit forecast (it does not matter whether costs or revenues come first). How many possible..

Write paper about information security and cyber security : Write paper about the following topics- information security, cyber security, and risk management with relation to cloud computing including things like risk management.

Formulas for marginal benefit and marginal cost : Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B (H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB (H)=420-80H and MC(H)=100+240H.

Brief summary of his perspective on play : Choose one of the theorists mentioned in Chapter Eleven and provide a brief summary of his perspective on play. How would this translate on a practical level in the early childhood classroom

Spend money advertising : Suppose that in addition to repairing your car, you can also spend money advertising. If you repair your car for hours and spend A dollars advertising, your benefit (the amount you revive when you sell your car) is B(H,A)=220H-H^2+2A. Both H and A ar..

How is an antiderivative related to a derivative : How is an antiderivative related to a derivative

Formulate intercept-slope equation of kaths budget line : Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1. If Kath buys only pizza, how many can she buy? Formulate the intercept-slope equation of Kath’s budget l..

User Account

All Pages