Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Judd
57
Joel
Gus
Tim
$3
2.
1
$5
$2
First film
Second film
Third film
Fourth film
Fifth film
1.
0.
0.
5.
2.
1
a. Within the dorm room, is Ux showing of a movie a
public good? Why or why not?
b. W itcosts S5 to rent a movic how many movies
should the mommates rent to maximize tothl
surplus?
c. li they choose the optimal number from part
(b)and then split the cost of renting the movies
equally, how much surplus does.cach person
obtain from wakhing the me
d. s there any way tospl ost.tormsre that
everyone benefits? What practical problems does
this solution reise?
Suppose they agmeinarancetochoxxe the
efficient number and to split the cosr of the
movies equally. When fudd is asked his wiling
ness to pay, will he have an incentive to toll the
Iruth? If so, why? f not. what will he he tempted
(1అ) బ*
E What does this example teach you abou the
optimal provision of public goods?
yol public gods?
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Transcribed Image Text:Judd 57 Joel Gus Tim $3 2. 1 $5 $2 First film Second film Third film Fourth film Fifth film 1. 0. 0. 5. 2. 1 a. Within the dorm room, is Ux showing of a movie a public good? Why or why not? b. W itcosts S5 to rent a movic how many movies should the mommates rent to maximize tothl surplus? c. li they choose the optimal number from part (b)and then split the cost of renting the movies equally, how much surplus does.cach person obtain from wakhing the me d. s there any way tospl ost.tormsre that everyone benefits? What practical problems does this solution reise? Suppose they agmeinarancetochoxxe the efficient number and to split the cosr of the movies equally. When fudd is asked his wiling ness to pay, will he have an incentive to toll the Iruth? If so, why? f not. what will he he tempted (1అ) బ* E What does this example teach you abou the optimal provision of public goods? yol public gods?
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