Suppose that Timmy lives in a neighborhood where graffiti is common. People's cars and the sides of houses are often vandalized with graffiti In response to the vandalism, the people in the neighborhood have proposed a voluntary community fund to pay for extra police patrols. There are 1000 people in Timmy's neighborhood, and each is recommended to contribute $10 a month Timmy's car has recently been vandalized and he is concerned it may happen again. Although he believes that he will benefit from the extra police patrols, Timmy has decided to take a free-rider approach Given his thinking, how much will Timmy contribute to the fund? Timmy's contribution: $ Assume that the entire neighborhood has the same mentality as Timmy. What will occur? The rate of graffiti in the neighborhood will increase significantly Everyone will contribute money towards the community fund, yielding higher rates of police patrol and less graffiti No one will contribute to the community fund, resulting in no changes None of the choices are correct

Suppose that Timmy lives in a neighborhood where graffiti is common. People's cars and the sides of houses are often vandalized with graffiti In response to the vandalism, the people in the neighborhood have proposed a voluntary community fund to pay for extra police patrols. There are 1000 people in Timmy's neighborhood, and each is recommended to contribute $10 a month Timmy's car has recently been vandalized and he is concerned it may happen again. Although he believes that he will benefit from the extra police patrols, Timmy has decided to take a free-rider approach Given his thinking, how much will Timmy contribute to the fund? Timmy's contribution: $ Assume that the entire neighborhood has the same mentality as Timmy. What will occur? The rate of graffiti in the neighborhood will increase significantly Everyone will contribute money towards the community fund, yielding higher rates of police patrol and less graffiti No one will contribute to the community fund, resulting in no changes None of the choices are correct

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 25P: Becky and Sarah are sisters 1who share a room. Their room can easily get messy, and their parents am...

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