Suppose 10 people each have the demand Q=20- 4P for streetlights and 5 people have the demand Q=18-2P for streetlights. The cost of building each streetlight is $3. a. If it is possible to purchase a fractional number of streetlights, how many streetlights are socially optimal?

Suppose 10 people each have the demand Q=20- 4P for streetlights and 5 people have the demand Q=18-2P for streetlights. The cost of building each streetlight is $3. a. If it is possible to purchase a fractional number of streetlights, how many streetlights are socially optimal?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose 10 people each have the demand Q=20-
4P for streetlights and 5 people have the demand
Q=18-2P for streetlights. The cost of building each
streetlight is $3.
a. If it is possible to purchase a fractional number
of streetlights, how many streetlights are socially
optimal?

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