Aside from the blanks And chart there are two drop down menu questions. -for the

Question

Aside from the blanks And chart there are two drop down menu questions. -for the first drop down menu the options are 1)overstate 2)understate
-for the second drop down menu the options are 1)do have 5. Problems and Applications Q5 Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: Willingness to Pay (Dollars) Dmitri Jake Nick Tim First film 10 9 8 Second film Third film Fourth film Fifth film within the dorm room, the showing of a movie- ? a public good. If it costs $12 to rent a movie, the roommates rent Suppose the roommates choose to rent the optimal number of movien you just indicated and then split the cost of renting equaly This means that each roommate will pay 3 es should rent movies in order to maximize the total surplus.

Explanation / Answer

1 3 movies

2 understate

3 True he will watch more by indicating more willingness to pay

4 don't

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.