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Four roommates are planning to spend the weekend in their dorm room watching old movies, and…
Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: Willingness to Pay (Dollars) Paolo Van Carlos Felix First film 10 9 6 Second film 97 42 Third film Fourth film Fifth film t》 Within the dorm room, the showing of a moviea public good If it costs $8 to rent a movie, the roommates should rent movies in order to maximize the total surplus. Suppose the roommates choose to rent the optal number of movies you just indicated and then split the cost of renting equally. This means that each roommate will pay$ Complete the following table with each roommate’s total willingness to pay for this many movies and the surplus each person obtains from watching the movies. Total Willingness to Pay Consumer Surplus
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