Author Question: Public goods are A) under provided by the private market because the marginal cost of production ... (Read 77 times)

jhjkgdfhk · **on:** Jun 29, 2018

Public goods are

A) under provided by the private market because the marginal cost of production is too high.
B) under provided by the private market because the marginal benefits of consumption are too low.
C) under provided by the private market because people's willingness to pay for the good is less than the marginal benefit of the good.
D) over provided by the private market because the marginal benefits of consumption are too high.

Question 2

The table above gives Jane's total utility from magazines and CDs. The price of a magazine is 4 and the price of a CD is 10.

If Jane's total budget for magazines and CDs is 70.00 per week, what is her total utility at her utility maximizing consumer equilibrium?
A) 2480 units
B) 1870 units
C) 210 units
D) 30 units