The accompanying table shows the willingness to pay of two representative groups of all citizens of a municipality for different amounts of public recreational areas (REC), which is measured in acres. The marginal cost of one acre of recreational area is $1,000 per acre.

In each example explain why the good belongs to the given category. (ifi) Which of the four categories is called a pure public good? ive Algebraic Problem - Optimal Provision of Public Good (EXTRA CRED ch Roster The accompanying table shows the willingness to pay of two representative groups of all citizens of a municipality for diff vals O Greens' Total Willingness To Pay Seniors' Total Willingness To Pay REC (acres) $2,000 $1,000 3.000 1,800 N 3.800 2,500 A W 4.300 3,100 4.500 3,600 4.600 4.000 4.600 4.300 4.600 4.400 4.600 4.400 (i What is the socially optimal level of recreational areas? Assume you cannot purchase partial acres. Explain your answer. ( ") What should be the tax burden to Greens and Seniors so that their consumer surpluses are equal? Choose a submission type T Upload More Previous 45. F Clear Q Search