Ain a community of 10000 people, each is willing to pay Ksh 10 for each well dug. The cost of digging the wall is is given by C= Q2+20Q. Calculate the pareto efficiecy number of wells to be dug.If the government want to dug the well at a minimal cost, how many walls will it dig and how much will it spenif the projet is given to a private, profit making organization, how many well would the firm dig?

Pareto efficiency, a concept in economics, occurs when a situation is optimized so that no…

Answered: Ain a community of 10000 people, each…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ain a community of 10000 people, each is willing to pay Ksh 10 for each well dug. The cost of digging the wall is is given by C= Q²+20Q.

1. 1. Calculate the pareto efficiecy number of wells to be dug.
  2. If the government want to dug the well at a minimal cost, how many walls will it dig and how much will it spen
  3. if the projet is given to a private, profit making organization, how many well would the firm dig?

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