An external benefit is a benefit from a good or service that someone other than the ________ receives.
A) seller of the good or service
B) government
C) foreign sector
D) consumer
E) market maker
Question 2
Tom is willing to contribute 400 toward building a public park, Jack is willing to contribute 500, and Joe is willing to contribute 750.
What is the total marginal value for the park if Tom, Jack, and Joe are the only residents in the neighborhood where the park is being built? A) 1,650
B) 1,050
C) 3,300
D) 2,350