This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public ... (Read 439 times)

am7272

  • Full Member
  • ***
  • Posts: 167
on: Oct 12, 2022

The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public good. This economy has 3 individuals, A, B and C. The diagram shows the MB for each individual and a summation of their marginal benefits.



FIGURE 16-4

Refer to Figure 16-4. Suppose the government provides Q4 units of the public good. If consumers were then required to pay a price of zero for the good,


◦ the market would clear, although not enough would be produced.
◦ the inefficient quantity would be being produced.
◦ the appropriate price would be achieved, although not enough would be consumed.
◦ consumers would use too little of the public good, and the outcome would be inefficient for society.
◦ consumers would use the public good until their marginal benefit was zero, and this would be socially optimal.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by am7272 on Oct 12, 2022

jamezpowell

  • Full Member
  • ***
  • Posts: 164
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


am7272

  • Member
  • Posts: 167
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Defensive mutualism involves species that receive food or shelter in return for providing protection Defensive mutualism involves species that receive food or shelter in return for providing protection
Bacteria Diagram Bacteria Diagram
Human Skeleton Diagram Human Skeleton Diagram
blank brain diagram blank brain diagram
Shope’s Model of Young Driver Crash Risks The model shows that many factors contribute to crash ris Shope’s Model of Young Driver Crash Risks The model shows that many factors contribute to crash ris
Krebs Cycle Diagram Krebs Cycle Diagram
Video: Corpus Callosum Animation

For a complete list of videos, visit our video library