Answered: Jonathan, Scott and Mitchell share a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Jonathan, Scott and Mitchell share a garage. All enjoy having the garage cleaned, regardless of who pays for cleaning. The graph below represents Jonathan, Scott and Mitchell’s individual demand for garage cleaning.

The marginal cost of cleaning $3 per hour. The Lindahl prices for Jonathan, Scott and Mitchell are, respectively,

$68/17, $17/17, and $4/85 per hour.

$34/17, $17/17, and $0 per hour.

None of these.

$30/17, $15/17, $6/17 per hour.

$0, $0, and $0 per hour.

Price
10.5
Jonathan
10
P(Q)=10-2Q
9.5
8.5
8.
7.5
6.5
6
5.5 Scott
P(Q)=5-Q
5
4.5
3.5
2.5 Mitchell
P(Q)=2-(2/5)Q
1.5
0.5
-1 -0.5 0
0.5
1
1.5
2.5
3.5
4
4.5
5.5
Quantity
-0.5
4.
3.
2.
1,

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