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How many security lights will be purchased

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Reference no: EM132480035

Ketmoree, G St Wunderbar and Red 88 Noodle bar, all located within a short distance on G Street are the three players in this problem, and we will call them A, B and C respectively. Suppose that they would benefit from security lights in the parking lot according to the following demand functions: PA = 65 - Q, PB = 45 - 3Q, PC = 20 - 2Q for A, B, and C, respectively. If security lights cost $60 each, in other words market supply is p = 60, what is the socially efficient quantity of lights? How many security lights will be purchased if each store buys its own lights?

Reference no: EM132480035

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