Ok mods please dont delete this, I have attempted these questions and only have part answers for them, infact im not even sure if I'm doing them right....im not asking for someone to do my homework for me (although that would be nice) Im just asking for clarification as to how to tackle them....anyone??? Q1 Dumpsville has a population of 100. Each resident has an identical demand for roads. Individual demand is: Q=50.2513-0.5025P Where Q is km of road and P is the price. The marginal cost or constructing a road is: MC=2500 + Q Since these are urban roads, charging a toll would be problematic and so they can be considered a public good. a) How much road should the city provide? b) The mayor wants to know how much she should tax the residents for the road construction. What is the answer? Q2 The hog industry not only provides us with delicious bacon. Gathering very large numbers of swine together in a limited area also produces a bit of a smell and some fairly nasty waste. A particularly quantitatively orientated individual set out to determine the actual cost of the smell and waste to society at large: MEC=0.00005Q Where MEC in the marginal external cost and Q is the quantity of hogs The cost to the producer of raising and slaughtering the hogs is: MC=2+0.00017Q Demand for bacon and other bits of the hog is: P=10-0.00025Q a) Determine the output and price that would be produced if the hog industry is free from any government intervention. b) Determine the efficient quantity and prices.