sub= 24 Anna, Elsa, and Olaf are trying to decide how many hours per week to run the heater, which costs $30 per hour, in the castle where they all live together. Anna and Elsa's individualdemand curves for hours of heat per week are given below:Anna: P = 45 - QElsa: P = 30 - 1/3QAnna, Elsa, and Olaf can all agree that they don't value more than 90 hours of heat per week.Would Elsa prefer to free-ride on Anna's provision of heat or pay her Lindahl price at the socially optimal quantity? Justify your answer and show all calculations.

nd Olaf are trying to decide how many hours per week to run the heater, which costs $30 per hour, res for hours of heat per week are given below: – 1/30 nd Olaf can all agree that they don't value more than 90 hours of heat per week. prefer to free-ride on Anna's provision of heat or pay her Lindahl price at the socially op

nd Olaf are trying to decide how many hours per week to run the heater, which costs $30 per hour, res for hours of heat per week are given below: – 1/30 nd Olaf can all agree that they don't value more than 90 hours of heat per week. prefer to free-ride on Anna's provision of heat or pay her Lindahl price at the socially op

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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