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The individual demand for community beaches of four community members: P = 100 - Q P = 60 - Q P = 50 - Q
The individual demand for community beaches of four community members:
P = 100 - Q
P = 60 - Q
P = 50 - Q
P = 100 - Q
The quantity of beaches is measured in linear miles.
a) Derive the aggregate willingness to pay (AWTP) equation for community beaches
b) If the marginal cost is $100, what is the optimal quantity of public beaches?
c) How many miles of public beaches would the private market provide? (MC = $100, again)
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