Just north of the town of Muskrat, Ontario, is the town of Brass Monkey, population 6900. Brass Monkey, like Muskrat, has a single public good, the town skating rink, and a single private good, Labatt Ale. Everyone's utility function is Mi = Mi 81 Y' where x; is the number of bottles of ale consumed by i and Y is the size of skating rink in square meters. The price of ale is $1 per bottle. The cost of skating rink to the city is $6 per square meter. Everyone has an income of

Just north of the town of Muskrat, Ontario, is the town of Brass Monkey, population 6900. Brass Monkey, like Muskrat, has a single public good, the town skating rink, and a single private good, Labatt Ale. Everyone's utility function is Mi = Mi 81 Y' where x; is the number of bottles of ale consumed by i and Y is the size of skating rink in square meters. The price of ale is $1 per bottle. The cost of skating rink to the city is $6 per square meter. Everyone has an income of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer just the number IV part.
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