The following table shows the marginal willingness to pay for three consumers in a market for a PUBLIC good. If the marginal cost to produce the good is MC = $100, what would be the efficient quantity in the market? Hint: use the table to find the answer; do not try to use equations. Q MWTP(a) MWTP(b) MWTP(c) 1 30 35 52 2 28 30 48 3 26 25 44 4 24 20 40 22 15 36 20 10 32 18 28 8 16 24 14 0. 20 10 12 16 11 10 12 12 8 0. 8.

The following table shows the marginal willingness to pay for three consumers in a market for a PUBLIC good. If the marginal cost to produce the good is MC = $100, what would be the efficient quantity in the market? Hint: use the table to find the answer; do not try to use equations. Q MWTP(a) MWTP(b) MWTP(c) 1 30 35 52 2 28 30 48 3 26 25 44 4 24 20 40 22 15 36 20 10 32 18 28 8 16 24 14 0. 20 10 12 16 11 10 12 12 8 0. 8.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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