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4. There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1= $200
4. There are three groups in a community.
Their demand curves for public television in hours of
programming, T, are given respectively by
W1= $200 -T,
W2= $240 -2T,
W3= $320 -2T.
Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour.
a.What is the efficient number of hours of public television?
(Please provide a different approach to solve this question, other than the already given one)
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