1. there are 100 consumers with identical demand functions for agricultural land. The individual demand function is given by q= 10-p and the inverse
This question has been answered
Question

1. there are 100 consumers with identical demand functions for agricultural

land. The individual demand function is given by q= 10-p and the inverse demand function is given by p = 10-q where q is the agricultural land in hectares and p is the price of marginal willingness to pay. what is the aggregate total willingness to pay for 100 hectares of agricultural land?




2 Consider a firm producing output Q. The marginal cost of production is MC = a + bq and per unit output price is p. Additionally there are marginal externalities equal to ME = cq without regulation how many units of q would the firm produce?
p =5 ,a=3 b=1 ,c =5

Answered by Expert Tutors
Step-by-step explanation
Get unstuck

416,475 students got unstuck by Course
Hero in the last week

step by step solutions

Our Expert Tutors provide step by step solutions to help you excel in your courses