Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. The city of Smallville is considering whether to build a new public swimming pool.This pool would have a capacity of 800 swimmers per day, and the proposed admission fee is $6 per swimmer per day. The estimated cost of the swimming pool, averaged overthe life of the pool, is $4 per swimmer per day.Smallville has hired you to assess this project. Fortunately, the neighboring identical town of Springfield already has a pool, and the town has randomly varied the price of that poolto find how price affects usage. The results from their study follow:Swimming pool price per day$8$10$4$6$2Number of swimmers per day5002001,1008001,400a. If the swimming pool is built as planned, what would be the net benefit per day from the swimming pool? $b. What is the consumer surplus for swimmers? $c. Given the demand curve shown and the cost per swimmer (MC), the optimal pool size should accommodateThis will result in consumer surplus of $per dayswimmers.

Consumer surplus is the difference between the highest price a consumer is willing to pay and the…

a. If the swimming pool is built as planned, what would be the net benefit per day from the swimming pool? $ b. What is the consumer surplus for swimmers? $ c. Given the demand curve shown and the cost per swimmer (MC), the optimal pool size should accommodate This will result in consumer surplus of $ per day swimmers.

a. If the swimming pool is built as planned, what would be the net benefit per day from the swimming pool? $ b. What is the consumer surplus for swimmers? $ c. Given the demand curve shown and the cost per swimmer (MC), the optimal pool size should accommodate This will result in consumer surplus of $ per day swimmers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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