Question
Suppose residents of Toad hop live on the Quebecer River, a river prone to flooding. Suppose there are 1000 people who value flood control more
Suppose residents of Toad hop live on the Quebecer River, a river prone to flooding. Suppose there are 1000 people who value flood control more than the 1000 people. Demand QD = 100 P T Demand QD = 50 P Where Q measures the quality of flood control. If the price of a unit of flood control is $100,000 and the citizens of Toad hop did not work together, what would be the amount of flood control purchased?
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
