Four roommates are planning to spend the weekend watching movies on demand. Here is their willingnesis to pay for each film: Judd $7 Joel $5 Gus Tim First fim Second film Third fim Fourth film Fifth fim $3 2. $2 1. 4 3. Suppose it costs $10 to rent a movie. In order to maximize total surplus (wilingness to pay less total cost), they should rent movies If they split costs equally, Judd's surplus will be whereas Tim's will be

Four roommates are planning to spend the weekend watching movies on demand. Here is their willingnesis to pay for each film: Judd $7 Joel $5 Gus Tim First fim Second film Third fim Fourth film Fifth fim $3 2. $2 1. 4 3. Suppose it costs $10 to rent a movie. In order to maximize total surplus (wilingness to pay less total cost), they should rent movies If they split costs equally, Judd's surplus will be whereas Tim's will be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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