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Suppose the total benefit derived from a given decision, Q, is B(Q)=25Q-Q^2 and the corresponding total cost is C(Q) = 5 + Q^2 so that MB(Q) = 25 -2Q and MC(Q) = 2Q

A.)what is a total benefit when Q=2 when Q=10
B.)What is a marginal benefit when Q=2 when Q=10
C.) What level of Q maximizes total benefit?

I need help double-checking my homework please help if you can. Please also show how you arrived at the answer and everything

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Chika Ilonah
Chika IlonahLv10
28 Sep 2019

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Related questions

Suppose the total benefit derived from a given decision, Q, is B(Q)=25Q-Q^2 and the corresponding total cost is C(Q) = 5 + Q^2 so that MB(Q) = 25 -2Q and MC(Q) = 2Q
What is the total cost when Q=2 and when Q=10
What is the marginal cost when Q=2 and q=10
What level of Q minimizes total cost?
What level of Q maximizes net benefits?

I need help double-checking my homework please help if you can. This is all one problem, there are two parts to the problem but this is one problem. Please also show how you arrived at the answer and everything

Suppose the total benefit derived from a given decision, Q, is B(Q)=25Q-Q^2 and the corresponding total cost is C(Q) = 5 + Q^2 so that MB(Q) = 25 -2Q and MC(Q) = 2Q

What level of Q minimizes total cost?
What level of Q maximizes net benefits?

For the maximizes net benefits part I have gotten 12.5 and 6.5.
If someone could please show me the correct way to find the answers it would be much appreciated.

Suppose you are given the following information about a particular PERFECTLY COMPETITIVE INDUSTRY:

The market demand curve is Q = 6500 - 100P

The market supply curve is Q = 1200P

You are also given the following information about a single PERFECTLY COMPETITIVE FIRM that operates in this industry:

The total cost function for the firm is TC = 722 + (Q^2 /200)

The marginal cost for the firm is MC = (2Q/200)

a. Calculate the profit-maximizing level of output for the individual firm and the price they charge.

b. Would you expect to see entry into or exit from this industry in the long-run? EXPLAIN YOUR REASONING. In addition, CALCULATE the price at which entry into or exit from the industry will stop.

c. Clearly explain why firms will continue to remain in the industry even when economic profits are driven to zero in the long run.

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