1.(22 points) The weekly demand for hiking in Olympic National Park is given by P=80-0.1Q.Hiking is free for hikers, but damages the environment.Park rangers estimate that it costs $20 to repair the damage caused by each hiker.(A graph is not needed, but may be helpful here.)

a.Find how many hikers will hike in the Olympics per week under the circumstances described above.What price do they pay?

b. What is the socially efficient number of hikers per week? And what is the deadweight loss caused by the externality?