What is socially optimal amount of heat for the apartment

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Question: Monica and Rachel are roommates in a cold NYC apartment. Monica's demand for heating is Q=20-P and Rachel's demand for heating is Q=20-0.5P, where Q is the amount of heat in the apartment and P is the price of heat. The marginal cost of heat is P=2Q. Draw the total demand for heat in the apartment. Label intercepts and any other relevant points. What is the socially optimal amount of heat for the apartment?

Reference no: EM133440399

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