What would be the net benefits to Zach andthe lake reduces the catch per persJacob if the efficient number were provided?12. A lone person fishing at a lake can catch 10fish per day. Each additional person fishingact ntspfixes. As one opponson to assume that aprivateproduce a public goodin deciding whether to)privately.11./Suppose that there areonly two fishermen,coast. They would each benefit if lighthousesmarginal cost of building each additional light-house is $100. The marginal benefit to Zach ofeach additional lighthouse is 90 – Q, and themarginal benefit to Jacob is 40 – Q, where Qequals the number of lighthouses.a. Explain why we might not expect to find theefficient number of lighthouses along thiscoast.b. What is the efficient number of lighthouses?fish ner deu If .at

a) Zach's marginal benefit schedule represents that the marginal benefit of a lighthouse starts at…

11./Suppose that thei Zach and Jacob, who fish alo coast. They would each benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional light- house is $100. The marginal benefit to Zach of each additional lighthouse is 90 – Q, and the marginal benefit to Jacob is 40 – Q, where Q equals the number of lighthouses. a. Explain why we might not expect to find the efficient number of lighthouses along this coast. b. What is the efficient number of lighthouses? What would be the net benefits to Zach and Jacob if the efficient number were provided? 2. A lone person fishing at a lake

11./Suppose that thei Zach and Jacob, who fish alo coast. They would each benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional light- house is $100. The marginal benefit to Zach of each additional lighthouse is 90 – Q, and the marginal benefit to Jacob is 40 – Q, where Q equals the number of lighthouses. a. Explain why we might not expect to find the efficient number of lighthouses along this coast. b. What is the efficient number of lighthouses? What would be the net benefits to Zach and Jacob if the efficient number were provided? 2. A lone person fishing at a lake

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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