Description of this paper

consider an economy with three type of individual

Description

solution


Question

consider an economy with three type of individual differing only with respect to their prefernces from monuments.individuals of the first type get a fixed benefits of 100 from the mere exestance of monuement. whatever their number.individual of the second and third type benefits according to;Bii =200+30m- 1.5 (m)2;Biii= 150 + 90m- 4.5 (m)2;where m denotes the number f monuments in the city. assuming that there are 50 people of each type.monuments cost 3600$ each to build.how many monument should be built

 

Paper#27398 | Written in 18-Jul-2015

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