1. In Richdale all individuals, i = 1, 2, ..., N, are identical. They all earn income (Y) and can spend their income on public parks (pi) and buying Tesla Model X cars (xi). Suppose the price of buying a unit of park is $1,000 and the price of buying a Model X is $100,000 so that the budget constraint (in thousands of dollars) is:
   

U(P,x) = pax-