9) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1 = $200 – T, %3D W2 = $240 – 2T, W3 = $320 – 2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? b. How much public television would a competitive private market provide?
9) There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1 = $200 – T, %3D W2 = $240 – 2T, W3 = $320 – 2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour. a. What is the efficient number of hours of public television? b. How much public television would a competitive private market provide?
Chapter1: Making Economics Decisions
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I need help with a and b
![9) There are three groups in a community. Their demand curves for public television in
hours of programming, T, are given respectively by
Wi = $200 – T,
W2 = $240 – 2T,
W3 = $320 – 2T.
Suppose public television is a pure public good that can be produced at a constant
marginal cost of $200 per hour.
a. What is the efficient number of hours of public television?
b. How much public television would a competitive private market provide?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F004119a2-f384-49b9-b414-445d20414cf2%2F316a4ec3-8b56-4d7a-8c4e-d1aceed71afd%2Fvqnyz8k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:9) There are three groups in a community. Their demand curves for public television in
hours of programming, T, are given respectively by
Wi = $200 – T,
W2 = $240 – 2T,
W3 = $320 – 2T.
Suppose public television is a pure public good that can be produced at a constant
marginal cost of $200 per hour.
a. What is the efficient number of hours of public television?
b. How much public television would a competitive private market provide?
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