Give exact every question answer and take a like 3. Consider a society consisting of only two persons:1st unit2nd unit3rd unit4th unitA and B. The right table shows their marginalbenefits of a good. Answer questions below assuming MBBMBA107416420their MBs from 5th good are zero.3.a. Suppose that the good is a pure private good.Fill in the market demand schedule in the right.Price11853Quantity demanded3.b. Suppose that the good is a pure public good. Consider the voluntary but efficient contributions fromA and B. Remember the example about it we learned on March 29. Answer how much A should pay foreach good and how much B should pay for each good to achieve the efficient supply level of the publicgood.A:B:

Market demand for a table is a tabular illustration of the portions of a selected appropriate or…

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ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Give exact every question answer and take a like

3. Consider a society consisting of only two persons:
1st unit
2nd unit
3rd unit
4th unit
A and B. The right table shows their marginal
benefits of a good. Answer questions below assuming MBB
MBA
10
7
4
1
6
4
2
0
their MBs from 5th good are zero.
3.a. Suppose that the good is a pure private good.
Fill in the market demand schedule in the right.
Price
11
8
5
3
Quantity demanded
3.b. Suppose that the good is a pure public good. Consider the voluntary but efficient contributions from
A and B. Remember the example about it we learned on March 29. Answer how much A should pay for
each good and how much B should pay for each good to achieve the efficient supply level of the public
good.
A:
B:

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