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Author Question: The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public ... (Read 417 times)

am7272

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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
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Marked as best answer by am7272 on Oct 12, 2022

jamezpowell

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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.
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am7272

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

tkempin

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Reply 3 on: Yesterday
Excellent

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