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Homework answers / question archive / Suppose 20 people each have the demand Q = 20 - P for streetlights, and 5 people have the demand Q = 18 - 2P for streetlights

Suppose 20 people each have the demand Q = 20 - P for streetlights, and 5 people have the demand Q = 18 - 2P for streetlights

Economics

Suppose 20 people each have the demand Q = 20 - P for streetlights, and 5 people have the demand Q = 18 - 2P for streetlights. The cost of building each streetlight is 10. If it is impossible to purchase a fractional number of streetlights, how many streetlights are socially optimal?

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