Solved: Marginal benefit and marginal cost functions, Microeconomics

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Marginal benefit and marginal cost functions

Problem: The only choice variable is x. The total benefit function is B(x) = 100x - 2x2, and the total cost function is C(x) = 1/3 x3 - 6x2 + 52x + 80.

Q1. What are the marginal benefit and marginal cost functions?

Q2. Set up the net benefit function and then determine the level of x that maximizes net benefit. (Use the positive value of x.)

Q3. What is the maximum level of net benefit?

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Microeconomics: Marginal benefit and marginal cost functions

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Microeconomics: Marginal benefit and marginal cost functions

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