Public Goods and Common Resources $-$ End of Chapter Problem

$\frac{}{1}$

An economist gives the following advice to a museum director: "You should introduce 'peak pricing.$\text{'}$ At times when the mluseum has few visitors, you should admit visitors for free. And at times when the museum has many visitors, you should charge a higher admission fee."

a$.$ When the museum is quiet, it is therefore, that would equal the

b$.$ When the museum is busy, it is therefore,

in consumption and

The efficient entry admission fee is

$$

$.$ The museum is$,$ as

$.$ The busy museum is$,$ The efficient price to charge visitors during that time is

$.$ as that would equal the