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

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

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