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Economics 333 HW2 O ZOOM + 8) Suppose that there are only two people in a small town. The town wants to preserve a nearby

Economics 333 HW2

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O ZOOM + 8) Suppose that there are only two people in a small town. The town wants to preserve a nearby forest by purchasing the forest land. Both people have marginal benets given by: P = 2500 2620 where 625 is the number of acres of forest land that are purchased The cost of the forest is $2000 per acre 3. How much land will be preserved in total if both individuals make individual purchasing decisions? Please show your work, (4 pts) b. How much forest land will be preserved if the two individuals act jointly? Please show your work, (4 pts)

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