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Author Question: An economist has estimated that the maintenance of a public park costs $25,000 a year and that the ... (Read 91 times)

Tazate

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An economist has estimated that the maintenance of a public park costs $25,000 a year and that the public park generates $30,000 a year in revenue for merchants near the park. From society's point of view, the maintenance of this park is


◦ inefficient because everyone in the community pays taxes to support the park, but only the merchants near the park benefit.
◦ inefficient because the additional revenues generated by the park are so low.
◦ potentially efficient because the value of the gains exceed the value of the costs.
◦ potentially efficient because no one would be made worse off as a result of maintaining the park.


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Marked as best answer by Tazate on Apr 19, 2019

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