What is the total benefit associated with producing four units of the control variable, Q (identify point A in the table)? Control variable. Marginal Net Benefit MNB (Q) Q 0 1 2 3 4 5 6 7 8 9 10 Total Benefits Total Costs B(Q) C(Q) 0 900 1,700 2,400 A 3,500 3,900 4,200 4,400 4,500 4,500 0 100 300 600 1,000 1,500 2,100 2,800 B 4,500 5,500 Net Benefits N(Q) 0 800 C 1,800 2,000 2,000 1,800 1,400 800 0 -1,000 Marginal Benefit MB (Q) 900 800 700 600 500 D 300 200 100 0 Marginal Cost MC (Q) 100 200 E 400 sda 600 700 800 900 1,000 800 600 400 200 F -200 -400 -600 -800 -1,000

In the following problem, find the profit maximizing quantity and graph the marginal revenue and marginal cost. Interpret your first-order condition in terms of marginal benefit and marginal cost. max π = (12 - Q)Q-20² 9

Action No Recycling Recycling Chemical Lab (Dollars) 2,400 2,100 Profit Water Park (Dollars) 1,100 1,900 Total (Dollars) Total economic profit is highest when the recycling production method is When the chemical lab uses the recycling method, the water park earns $1,900 - $1,100 = $800 more per week than it does with no recycling. Therefore, the water park should be willing to pay up to $800 per week for the chemical lab to recycle water. However, the recycling method decreases the chemical lab's economic profit by $2,400 - $2,100 = $300 per week. Therefore, the chemical lab should be willing to use the recycling method if it is compensated with at least $300 per week. Suppose the water park has the property rights to the lake. That is, the water park has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the chemical lab will the recycling method and will pay the water park per week. Now, suppose the chemical lab has the property…

Am. 111.

For each lettered space in the following table, determine the appropriate dollar amount.

15) If the average cost (AC) of producing a good is increasing as a firm produces moreoutput (q), then which of the following must be TRUE?A) AFC is falling; AVC is rising; MC > AVCB) AFC is falling; AVC is falling; MC > AVCC) AFC is rising; AVC is rising; MC > AVCD) AFC is rising; AVC is rising; MC < AVCE) AFC is falling; AVC is falling; MC < AVC

No cost function has been provided. Please see attached.

Cost Per Year Q₁ O Q₂ QQQQ O Q4 TC VC At what level of output does average total cost equal marginal cost? FC Output