The following table shows the marginal benefits of a pure public good that can be enjoyed by four people in a community, Athirah, Dewi, Chin, and John. Number of Public Good Marginal Benefit: 1 2 3 4 Athirah 175 150 125 100 Dewi 150 125
The following table shows the marginal benefits of a pure public good that can be enjoyed by four people in a community, Athirah, Dewi, Chin, and John. Number of Public Good Marginal Benefit: 1 2 3 4 Athirah 175 150 125 100 Dewi 150 125
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter5: Difficult Cases For The Market And The Role Of Government
Section: Chapter Questions
Problem 3CQ
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Question
Q3. The following table shows the marginal benefits of a pure public good that can be enjoyed by four people in a community, Athirah, Dewi, Chin, and John.
|
|
Number of Public Good |
||
Marginal Benefit: |
1 |
2 |
3 |
4 |
Athirah |
175 |
150 |
125 |
100 |
Dewi |
150 |
125 |
100 |
75 |
Chin |
125 |
100 |
75 |
50 |
John |
100 |
75 |
50 |
25 |
|
|
|
|
|
- What is the efficient number of the public good if the marginal social cost of making the public good available is RM575? Explain your answer with a calculation.
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