Question: there are three groups in a community their demand curves...
There are three groups in a community. Their demand curves for public television in hours of programming, T, are given respectively by W1 = $100 − T, W2 = $300 − 2T, W3 = $400 − 2T. Suppose public television is a pure public good that can be produced at a constant marginal cost of $200 per hour.
(a) What is the efficient number of hours of public television?
(b) How much public television would a competitive private market provide?