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(a)The three individual willingness to pay functions for a public good are given by: w1; p= 25 - 0.5Q, W2 p = 17 - Q
(a)The three individual willingness to pay functions for a public good are given by: w1; p= 25 - 0.5Q, W2 p = 17 - Q and W3; P = 12 - 1.5Q Specify the total willingness to pay function (W) for this public good. Then, given: MC = 3Q calculate the optimal quantity of this public good the government should provide.
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