Based on Molly's willingness to pay for the 8th trip, and the number of trips she can make over the bridge, her willingness to pay for the bridge repair would be<u> $1.00.</u>
<h3>What is Molly's willingness to pay for taxes to fix the bridge?</h3><h3 />
Molly's willingness to pay for trips is equal to the total consumer surplus she gets.
This means that her consumer surplus is $0.50.
With the bridge fixed, she can make 2 more trips than before because she can make 10 trips.
Her willingnesss to pay for the taxes will therefore be equal to her willingness to pay for the remaining trips:
= 0.50 x 2
= $1.00
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-2(4x-1)=5+7
(4x-1)=12/-2
4x=-6+1
x=-5/4
Let the amount B pays be £x
So,
A pays £125
B pays £x
They pay in the ration 3:2
Therefore,
125/x = 3/2
Cross multiplying we get,
125 x 2 = 3x
3x = 250
x = £63.33
Justin rides 550 kilometers
or
justin rides 17 meter
