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8. A nightclub makes noise that disturbs residents nearby. Suppose that the nightclub can, at some cost, eliminate the noise. Homeowners can get the same

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8. A nightclub makes noise that disturbs residents nearby. Suppose that the nightclub can, at some cost, eliminate the noise. Homeowners can get the same elimination by soundproofing their houses. There are 20 houses near the nightclub. Reducing noise costs the nightclub $10000, and sound proofing costs $400 for each house. Nightclub noise (with neither soundproofing nor noise reduction by the nightclub) reduces the value of the house to its owner by $600. a. What is the most efficient solution to the noise problem, soundproofing by the homeowners or noise reduction by the nightclub? b. Suppose the nightclub has no legal obligation to reduce noise

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