QUESTION #1: Robin Hood Rides a Trolley Part A: (i) Suppose that Donald owns a building that is worth $606 million to him. There is another person in the city, Bernie, who values the building at...

Extracted text: QUESTION #1: Robin Hood Rides a Trolley Part A: (i) Suppose that Donald owns a building that is worth $606 million to him. There is another person in the city, Bernie, who values the building at $1,312 million (we know this to be objectively true). Would it be efficient for the mayor of the city to seize the Donald's property and transfer it to Bernie? Explain. (ii) Depict the transfer (i.e. draw the welfare diagram) using a simple demand curve.