Cost-Benefit Analysis The cily of Smallville is considering whether to build a new public swimming pool. This pool would have a capacity of 800 swimmers per day, and the proposed admission fee is $6 per swimmer per day. The estimated cost of the swimming pool, averaged over the life of the pool, is $1 per swimmer per day. Smallville has hired you to assess this project. Fortunately, the neighboring identical town of Springfield already has a pool, and the town has randomly varied the price of that pool to find how price affects usage. The resulis from their study follow: 1) Use the table to determine the demand function, Q(P) for the swimming pool. (Hint: You'll need to find the linear relationship between price and quantity perhaps using a formula such as the point-slope form). 2) If the swimming pool is built as planned, what would be the net benefit per day from the swimming pool? 3) If the swimming pool is built as planned, what is the consumer surplus for swimmers? 4) If the swimming pool is built as planned, how much revenue does the city make? 5) If the swimming pool is buill as planned, what is the total surplus? 6) Given this information, is the 800-swimmer pool the optimally sizod pool for Smallville to build? Explain. (Hint: You are given the marginal cost. What important relationship involving the marginal cost determines the optimal solution? Using this relationslip, is Smallville able to increase Lotal surplus by having a larger swimming pool?)