Question: which topic is this question testing: Suppose Ariel and Prince Eric are getting married, and their parents, King Triton and Grimsby, are paying for the
which topic is this question testing: Suppose Ariel and Prince Eric are getting married, and their parents, King Triton and Grimsby, are paying for the wedding. Fireworks cost $40 each and the socially optimal quantity is 55. Grimsby's individual demand for fireworks is given by: P = 180 - 3Q. What quantity of fireworks will be provided if the men choose independently and do not cooperate? (Assume Triton has a linear demand curve and neither parent is willing to pay for more than 60 fireworks.)
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