The equations given below represent the MWTP functions of two individuals, X and Y that enjoy a public park: MWTP (X) = 400 - Q MWTP (Y) = 55 + 0.5Qa. a) find MWTPT for the public park? Draw MWTP (X), MWTP(Y) and MWTPT on a diagram. b. Suppose the marginal cost to provide the park is $8, what is the socially efficient number of hectares for the park? Incorporate with the diagram above c. Suppose the marginal cost to provide the park is $20, what is the socially efficient number of hectares for the park? Incorporate with your diagram above.

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