A small city in Indiana has two residents, who are lucky enough to have a municipal golf course in their city. The marginal benefit of playing a round of golf for the first resident is given by MB_1 = 80-2Q, and the marginal benefit of playing golf for the second resident is given by MB_2 = 30-Q_2. The manager at the golf course has set the price of a round of golf at S10. a. How many rounds will the first resident golf? b. What are the first resident's total benefits? c. How many rounds will the second resident golf? d. What are the second resident's total benefits? e. What are the total benefits associated with the golf course? 2) Two suppliers have been contracted by a government agency to provide a total of 200 hours of training services to help agency employees learn how to use a new computer system. The marginal cost curve off firm 1 is MC1 = 100+.2Q1, while the marginal cost curve for Firm 2 is MC2 = 90+.4Q2. There are no fixed costs. Each firm provides 100 hours of training services each week. a. What is the total cost to firm 1 of providing 100 hours of training? b. What is the total cost to firm 2 of providing 100 hours of training? c. What is the marginal cost of training for firm 1 at 100 hours of training? d. What is the marginal cost of training for firm 2 at 100 hours of training? The market marginal benefit curve for water (measured in thousands of gallons) is MB = 300-Q, where MB is the marginal benefit of water, and Q is thousands of gallons of water each period. The marginal cost of providing the water (including treatment, and costs) is MC = 5Q. no fixed costs. Suppose that the government utility that provides water service has set the price at $100 per thousand gallons, and supplies 200 thousand gallons. a. What is the total benefit of that amount of water? b. What is the total cost of providing that amount of water? c. What is the net benefit (total benefits minus total costs) of that amount of water? d. Are net benefits maximized at 200 thousand gallons? If yes, why? If not, how many gallons should be supplied to maximize net benefits