Question: Hello, I would like some help to solve this question. Thank you. 3. The following equations describe the willingness to pay of Anna, Bill, and

Hello, I would like some help to solve this question. Thank you.

3. The following equations describe the willingness to pay of Anna, Bill, and Camille for a public park, where Q is the number of hectares for the park. Anna's WTP: PA = 25 - 5QA Bill's WTP: PB = 16 - 4Q B Camille's WTP: Pc = 4 - Qc The marginal cost function to provide the park is given by, MC = 2Q +3 (a) Derive the market (aggregate) demand function for the public park. Present the function graphically (include intercepts and kink point (s)). (b) What is the socially efficient provision (socially efficient number of hectares) for the park? Show the solution in the graph you drew in part (a). How much is each consumer willing to pay for the socially efficient size of the park? (c) If Camille decides to free ride and contribute zero, find the market (aggregate) demand func- tion. Present the function graphically (include intercepts and kink point(s)). What is the effect (due to free-riding) on the provision of the public park? Find the size of the park

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