Solved: Suppose the total benefit derived from a continuous, Business Economics

Suppose the total benefit derived from a continuous

Suppose the total benefit derived from a continuous decision, Q, is B(Q) = 20Q - 2Q² and corresponding total cost is C(Q) = 4 + 2Q² so that MB(Q) = 20 - 4Q and MC(Q) = 4Q.

a. What is total benefit when Q = 2? Q = 10?

b. What is marginal benefit when Q = 2? Q = 10?

c. What level of Q maximizes total benefit?

d. What is total cost when Q = 2? Q = 10?

e. What level of Q minimizes total cost?

f. What level of Q maximizes net benefits?

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