[Appendix material: calculus required] Suppose total benefits and total costs are given by B(Y) = 150Y − 10Y 2 and C(Y) = 5Y 2. Then marginal costs are:
a. 5Y.
b. 10Y.
c. 2.5Y.
d. 25Y.
Ans) the correct option is b. 10Y.
Marginal cost is the differentiation of total cost with respect to Y
MC = dC/dY = 10Y
[Appendix material: calculus required] Suppose total benefits and total costs are given by B(Y) = 150Y...
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Solve each of the following.
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