Consider an economy in which there are 50 people who, Econometrics

Consider an economy in which there are 50 people who

Consider an economy in which there are 50 people, who consume a private good (bread) and a public good (circuses). There are, however, two types of people (type 1 and type 2). Each type 1 person's marginal rate of substitution is

where z is the number of circuses. Each type 2 person's marginal rate of substitution is

There are 20 type 1 people and 30 type 2 people. The economy's marginal rate of transformation is

Find the optimal number of circuses.

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Econometrics: Consider an economy in which there are 50 people who

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