HW chap 3

Instructionsroundyouranswerto2decimalplaces

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Unformatted text preview: you undertake an activity x. Total benefit from x can be expressed by the equation: The total cost of x can be expressed by the equation: What is the level of x that will maximize your net benefit (that is, total benefit minus total cost)? Instructions: Round your answer to 2 decimal places. The level of x that will maximize your net benefit is 6.25 ± .01 . Explanation: Marginal benefit of x is: Marginal cost of x is: Solve MB = MC to get x = 6.25. e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie w 2/7 1/14/14 7. Assignme nt Pr int Vie w awar d: 5 out of 5.00 points Suppose that the cost of hiring your mechanic (including the cost of parts) is $200 an hour up to four hours and $300 an hour over four hours (she charges for her time in one­hour increments). Your benefits and other costs are shown below. Fill in the blanks in the table below. Instructions: Round your answers to the nearest whole number. Hours 0 To...
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This note was uploaded on 01/14/2014 for the course ECO 3352 taught by Professor Ax during the Fall '13 term at Troy.

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