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kindly show all the steps in solving.
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answerhappygod
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kindly show all the steps in solving.
kindly show all the steps in solving.
Two individuals have demands for a public good represented by: Person A: q = 100 – 10p Person B: q= 80 - 10p a. Find a mathematical expression for the aggregate marginal willingness to pay (market demand) curve for this public good. b. If the price of the public good is fixed at $6, what is the socially optimal (efficient) amount of the public good? c. How much do the two consumers pay for the public good at the socially optimal outcome?
Two individuals have demands for a public good represented by: Person A: q = 100 – 10p Person B: q= 80 - 10p a. Find a mathematical expression for the aggregate marginal willingness to pay (market demand) curve for this public good. b. If the price of the public good is fixed at $6, what is the socially optimal (efficient) amount of the public good? c. How much do the two consumers pay for the public good at the socially optimal outcome?
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