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Very confused on this problem 8. (12 points) Public fountains are considered a public good {nonrival and nonexcludable). Suppose a town has 1000 habitants, which

Very confused on this problem

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8. (12 points) Public fountains are considered a public good {nonrival and nonexcludable). Suppose a town has 1000 habitants, which with an identical marginal benefit curve (MB): 12 0.01q, with q in cubic meters. The Marginal Cost of fountains is given by MC = 6000 4- 2q. a. Find the volume of fountains provided by the market (in, assuming there is no cooperation between habitants. b. What is Efcient provision of fountains in the town, (1'? c. What is the deadwelght loss at the market equilibrium? d. Explain in plain English why this good is \"under provided" by the market (assuming no cooperation)

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