Problem 2: Public goods Three houses sit along the shore of a tiny lake Due to the presence of PCBs, it is not safe to boat, fish, or swim in the lake. The households are willing to pay for clean up and remediation of the lake as follows Household WTP 1 6000 2 4200 3 10500 What is the total social value of lake restoration? Want to learn more about PCBs? https://www.epa.gov/pcbs/learn-about-polychlorinated biphenyls ock The lake also suffers from excess algae, which reduces water clarity and makes recreating less appealing The households' marginal willingness to pay for greater clarity, as measured by Secchi disk depth (SDD), is as follows Household Marginal value function 1 mWTP 1500-150SDD 2 mWTP 300-30SDD 3 mWTP 500-50SDD If the current clarity is 2 meters of Secchi depth, what is the social marginal value of additional clarity? Provide your answer in cell H40 by writing in a formula for the social marginal value as a function of clarity What is the total social benefit of improving clarity to a disk depth of 10 meters? Social mWTP Clarity