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Author Question: Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there ... (Read 201 times)

ENagel

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on: Jul 1, 2018
Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100  P Type B Demand QD = 50  P Where Q measures the quality of flood control. If the price of a unit of flood control is 100,000 and the citizens of Toadhop gather for a townhall meeting to find the socially optimal level of flood control, and they are successful, how much will each type B individual contribute in total?
 a. 1875
  b. 1500
  c. 875
  d. 625

Question 2

Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100  P Type B Demand QD = 50  P Where Q measures the quality of flood control. If the price of a unit of flood control is 100000 and the citizens of Toadhop gather for a townhall meeting to find the socially optimal level of flood control, and they are successful, how much will each type A individual contribute in total?
 a. 1875
  b. 1500
  c. 875
  d. 625


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jessicaduplan

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

a


ENagel

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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