(Answered) The university is considering the level of light to provide

Economics

The University is considering the level of light to provide at night on campus. Cynthia and Shirley are the only students who work on campus at night. Cynthia's marginal benefit for light is given by MBCynthia = 50 - 5Q, where Q is the brightness of light; while Shirley's marginal benefit is MBShirley = 10-Q. If there are no fixed costs, and the marginal cost of providing light is given by MC=12, then what is the optimal brightness of light for the university to provide?

(a)8

(b)10

(d)4

(e)None of the above.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92852655
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

What is the supply curve how do you apply the law of supply

What is the supply curve, how do you apply the law of supply in economics?

Tell us about the starbucks corp what it does and makes

Tell us about the Starbucks Corp. what it does, and makes; publically traded or privately owned; how big, etc. 'what' is; it is exposition. Although who is the founders and history of the company; and its sense of social ...

Bob is interested in studying whether the average household

Bob is interested in studying whether the average household income in city A is lower than the national benchmark, μ 0 = $51,500. He collects income information from a random sample of 100 households, conducts a one-sam ...

A survey of car rentals agencies shows that the average

A survey of car rentals agencies shows that the average cost of a car rental is 0,35 per mile. The standard deviation is .05. Using Chebyshevs theorem, find the price range for which at least 93.75 % of the data values w ...

A community hospital wants to estimate the body mass index

A community hospital wants to estimate the body mass index (BMI) of its local population. To estimate the BMI with an error of at most 0.5 at a 95% confidence level, what sample size should they use? The standard deviati ...

Here is some questions need help how will each of the

Here is some questions need help!!!!!! How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in the given market; that is, do price and quantity increase or decr ...

A particular manufacturing process is known to produce 03

A particular manufacturing process is known to produce 0.3 proportion defective items. Suppose that a sample of 10 items produced by this process are selected at random. (a) The probability that the sample will contain e ...

When a country is closed qconsumed qproduced when a country

When a country is closed, Qconsumed= Qproduced. When a country opens to trade, this condition is not necessarily true; what condition must hold?

Multimedia corp has a target capital structure of 70

Multimedia Corp has a target capital structure of 70 percent common stock, 10 percent preferred stock, and 20 percent debt. Its cost of equity is 11.5 percent, the cost of preferred stock is 6.5 percent, and the cost of ...

Consider a perfectly competitive market with market supply

Consider a perfectly competitive market with market supply QS= -2+ P and market demand QD= 40 -P/2. Suppose the government imposes a tax of $6 per unit on this market. How much tax revenue is collected? a.$0 b.$48 c.$96 ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert