(Solved) Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150+28Q-5Q² and C(Q)=100
Question: Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150+28Q-5Q² and C(Q)=100 + 8Q. (Note: MB(Q)=28-10Q and MC(Q)=8.)
- Write out the equation for the net benefit
- What are the net benefits when Q=1? Q=5?
- Write out the equation for the marginal net benefits.
- What are the marginal net benefits when Q=1? Q=5?
- What level of Q maximizes net benefits?
- At the value of Q that maximizes net benefits, what is the value of marginal net benefits?
Deliverable: Word Document 
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