Question

The marginal net benefits of production are given by marginal willingness to pay minus the marginal...

The marginal net benefits of production are given by marginal willingness to pay minus the marginal costs of production (this is the net benefit from producing one additional unit). The area under the marginal net benefit curve is the sum of producer and consumer surplus. The marginal net benefits are given by MNB = MWTP – MC = 15 – 3Q.
3a. Which quantity maximizes the total (not marginal) net benefits of production?
3b. What are the maximum total net benefits?

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