Suppose Demand for a Public Park (Assume It Is a Pure

question 12

Essay

Suppose demand for a public park (assume it is a pure public good)for two groups of consumers (A and B)is given by:
Q_A = 4 - 0.5P
Q_B = 7 - P
where Q is the number of hectares each group would like to see incorporated into the park.If the marginal cost to provide the park is a constant $3/ha,what is the socially efficient number of hectares for the park?

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Definitions:

Sense Of Taste

The sensory ability to discern different flavors and substances, primarily through the taste buds on the tongue.

Reproduce

The natural method through which new organisms are produced to guarantee the survival of a species.

Fragrant Odors

Smells that are pleasantly sweet or aromatic, often produced by flowers, herbs, spices, or essential oils.

Pleasant Memories

Recollections that are enjoyable and positive.