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Dorothy lives in a city with high air pollution. Pollution is a bad, but she is able to avoid air ...

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Dorothy lives in a city with high air pollution. Pollution is a bad, but she is able to avoid air ...

Dorothy lives in a city with high air pollution. Pollution is a bad, but she is able to avoid air pollution by wearing a face mask. Her preferences are given by
      U(q1,q2) = (q1 - P)2q22
where q1 is the amount of time she spends wearing a mask, P is the amount of pollution and q2 is a composite of other goods (p2 = 1). Dorothy must decide how much to wear a mask and how much q2 to purchase. The price of masks is pM. Assume q1* > P when answering this question.
a.   Derive Dorothy's demand for masks, q1*(p1,Y, P)
b.   How does the quantity of pollution affect the demand for masks? That is, find q1*/P.
c.   How does her income influence the quantity of masks she purchases? That is, find q1*/Y.
d.   What condition must hold for the assumption q1* > P to hold?

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Microeconomics: Theory and Applications with Calculus

Edition: 4^th

Author: Perloff

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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

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