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Suppose 10 Citizens Each Derive Marginal Benefit from Traffic Lights

question 65

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Suppose 10 citizens each derive marginal benefit from traffic lights according to the function MB = 10 - Q.If traffic lights cost $10 each to produce,what is the efficient quantity of traffic lights?

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Definitions:

Expand

To simplify an expression by distributing multiplication over addition or subtraction, often involving algebraic expressions.

Properties

Characteristics or attributes that help define mathematical objects, operations, or relations.

Logarithms

The level to which a base, commonly 10 or e, has to be lifted to yield a particular number.

Expand

To expand an algebraic expression means to multiply it out or remove parentheses, simplifying it to a sum or difference of terms.

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