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 204 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
:D TYSM

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Otitis media. This illustration shows an inflamed tympanic cavity, which is the most common source o Otitis media. This illustration shows an inflamed tympanic cavity, which is the most common source o
Bacteria Diagram Bacteria Diagram
Bacteria Diagram Bacteria Diagram
The “Flat Head” (Chinook) Indians acquired their name through shaping in infancy, as shown in a diag The “Flat Head” (Chinook) Indians acquired their name through shaping in infancy, as shown in a diag
Which of the above illustrations shows an acidic aqueous solution Which of the above illustrations shows an acidic aqueous solution
A comparison of a trait (height) that shows discontinuous and continuous phenotypes in different pla A comparison of a trait (height) that shows discontinuous and continuous phenotypes in different pla
Video: Fetal development - Weeks 9 to 38

For a complete list of videos, visit our video library