In the table below, fill in the numeric answers in the \"Willingness to Pay\" (W
ID: 1125190 • Letter: I
Question
In the table below, fill in the numeric answers in the "Willingness to Pay" (WTP) blanks where indicated. WTPx, WTPy, WTPz represent three different individual's "willingness to pay".
In the table below, fill in the numeric answers in the "Willingness to Pay" WTP) blanks where indicated. WTPx, WTPy WTPz represent three different individual's "lngness to pay WTPx WTPy Collective WTP 21 Number 19 Number 13 39 Number 10 29 10 Number 29 Number 20 What is the optimal quantity of the public good that should be provided? (Click For List)Explanation / Answer
Collective WTP = WTPx + WTPy + WTPz
The optimal quantity of the public good that should be provided = 4 (The last quantity provided where collective WTP > MC)
Q MC WTPx WTPy WTPz Collective WTP 1 17 22 14 21 57 2 19 16 10 13 39 3 21 12 7 10 29 4 22 10 5 8 23 5 29 9 4 7 20