Answer the question based on the following information for a public good. Pa and Pb are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it. These people are the only two members of society. Pa Pb 1 $3 $5 4 3. 1 4 2 1 If the marginal cost of producing this good at the optimal quantity is $8, the optimal quantity must be

Answer the question based on the following information for a public good. Pa and Pb are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it. These people are the only two members of society. Pa Pb 1 $3 $5 4 3. 1 4 2 1 If the marginal cost of producing this good at the optimal quantity is $8, the optimal quantity must be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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