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What the market equilibrium price and quantity

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Reference no: EM132592901

Suppose that Haeli's demand for puppy memes is given by Q=60-20P and Evan's demand by Q=40-20P. Anna is willing to supply any quantity of pupper memes at P=2.

(a) Suppose pupper memes are a private good. What the market equilibrium price and quantity?

(b) Explain why puppy memes might be a public good

(c) If puppy memes are a public good, what is the social marginal benefit curve

(d) What is the socially optimal number of puppy memes to make? and why this number might be different from your answer in part (a).

Reference no: EM132592901

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