a.)If the marginal social cost of the good is $2,000, what is the efficient output assuming that it is a pure private good? b.)If the marginal social cost of the good is $2,000, what is the efficient output assuming it is a pure public good?
a.)If the marginal social cost of the good is $2,000, what is the efficient output assuming that it is a pure private good? b.)If the marginal social cost of the good is $2,000, what is the efficient output assuming it is a pure public good?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section5.2: Cloting Choices
Problem 1R
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- The following table shows how the marginal benefit of a service varies for four consumers:
a.)If the marginal social cost of the good is $2,000, what is the efficient output assuming that it is a pure private good?
b.)If the marginal social cost of the good is $2,000, what is the efficient output assuming it is a pure public good?
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