Hi there can someone please help me out with this, thank you!!
Moe, Larry, and Curly are the only people living in Stoogeland. For each of them, this table shows the marginal willingness to pay (MWTP) for a public good. For example, Moe would be willing to pay as much as $35 for a second unit of the public good.
The table also shows the cost of supplying each additional unit of the public good. The marginal cost column shows that it would cost the government an additional $20 to produce the second unit.
To answer the questions that follow, you will need to figure out the values that go in the column for the aggregate marginal willingness to pay. Here, aggregate refers to the sum, or total, across all individuals.
Quantity, Marginal Willingness to Pay (MWTP),Aggregate (MWTP), Marginal Cost
Moe LarryCurly
1$40$20$30 $15
2$35$18$27 $20
3$30$16$24 $25
4$25$14$21 $30
5$20$12$18 $35
6$15$10$14 $40
7$10$8$12 $45
8$5$6$9 $50
9$0$4$6 $55
What is the optimal quantity of the public good for Stoogeland?
**Please enter a whole number, with no decimal point.**
Moe, Larry, and Curly are the only people living in Stoogeland. For each of them, this table shows the marginal willingness to pay (MWTP) for a public good. For example, Moe would be willing to pay as much as $35 for a second unit of the public good.
The table also shows the cost of supplying each additional unit of the public good. The marginal cost column shows that it would cost the government an additional $20 to produce the second unit.
To answer the questions that follow, you will need to figure out the values that go in the column for the aggregate marginal willingness to pay. Here, aggregate refers to the sum, or total, across all individuals.
Quantity, Marginal Willingness to Pay (MWTP),Aggregate (MWTP), Marginal Cost
Moe LarryCurly
1$40$20$30 $15
2$35$18$27 $20
3$30$16$24 $25
4$25$14$21 $30
5$20$12$18 $35
6$15$10$14 $40
7$10$8$12 $45
8$5$6$9 $50
9$0$4$6 $55
What is the optimal quantity of the public good for Stoogeland?
**Please enter a whole number, with no decimal point.**