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March 28, 2017

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Assume the only choice variable is total benefit function is B(x) = 170x-x², and cost function is C(x) = 100-10x + 2x².

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

b. Set up the net benefit function and then determine the level x that maximises net benefit.

c. what is the maximum level of net benefit?

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