(Note: you can upload your work on the next question if you want partial credit for this)Noel likes to party. She lives in a house with a bunch of other people who like to party but nobody likes planning the parties or cleaning up afterward. Noel's individual marginal benefit for parties isMB(q)=200-4q where q is the number of parties held at her house each month.If it costs $100 to throw and clean up after a party, how many parties does she throw if she has to do it all alone?What is her net benefit (consumer surplus) from throwing that number of parties all on her own?Fortunately her 4 roommates also like to party and have MB(g)=800-16q (this is their aggregate MB for the 4 roommates, not including Noel)What is the aggregate demand for parties?('ll check this by hand. Don't worry about the format too much)How many parties are thrown if everyone cooperates?What is the total net benefit if everyone cooperates? (Total, not per person)What is the per person net benefit if everyone cooperates?If Noel refuses to contribute to the public good, how many parties do her roommates thrown on their own (assuming they cooperate with each other, a decimal answer is ok)?What is Noel's consumer surplus if she free-rides (round to the nearest whole number)?

Disclaimer :: as you posted multipart questions we are supposed to solve the first 3quetions only .…

(Note: you can upload your work on the next question if you want partial credit for this) Noel likes to party. She lives in a house with a bunch of other people who like to party but nobody likes planning the parties or cleaning up afterward. Noel's individual marginal benefit for parties is MB(q)=200-4q where q is the number of parties held at her house each month. If it costs $100 to throw and clean up after a party, how many parties does she throw if she has to do it all alone? What is her net benefit (consumer surplus) from throwing that number of parties all on her own? Fortunately her 4 roommates also like to party and have MB(q)-800-16q (this is their aggregate MB for the 4 roommates, not including Noel) What is the aggregate demand for parties?

(Note: you can upload your work on the next question if you want partial credit for this) Noel likes to party. She lives in a house with a bunch of other people who like to party but nobody likes planning the parties or cleaning up afterward. Noel's individual marginal benefit for parties is MB(q)=200-4q where q is the number of parties held at her house each month. If it costs $100 to throw and clean up after a party, how many parties does she throw if she has to do it all alone? What is her net benefit (consumer surplus) from throwing that number of parties all on her own? Fortunately her 4 roommates also like to party and have MB(q)-800-16q (this is their aggregate MB for the 4 roommates, not including Noel) What is the aggregate demand for parties?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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