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6. Public good: (a) Find all of the duality relationships for the following problem: Maximize: U= x3/4 Q%4 Subject to: m=px where x represents the
6. Public good: (a) Find all of the duality relationships for the following problem: Maximize: U= x3/4 Q%4 Subject to: m=px where x represents the total of market traded goods, Q is a public good, m is the available budget, and p is the price of the market traded good x. (b) Let p = 1 and U = 100. Find the marginal willingness to pay (WTP) function. 6. Public good: (a) Find all of the duality relationships for the following problem: Maximize: U= x3/4 Q%4 Subject to: m=px where x represents the total of market traded goods, Q is a public good, m is the available budget, and p is the price of the market traded good x. (b) Let p = 1 and U = 100. Find the marginal willingness to pay (WTP) function
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