Use the Following to Answer Question

question 59

Multiple Choice

Use the following to answer question:
Figure: An Individual's Marginal Benefit from a Public Good
-(Figure: An Individual's Marginal Benefit from a Public Good) Use Figure: An Individual's Marginal Benefit from a Public Good.Assume that two individuals will share consumption of a public good;each individual has the marginal benefit curve shown in the figure.What is the total social benefit from four units of the public good?

• A)$16
• B)$60
• C)$140
• D)$200

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Definitions:

Government Policies

Guidelines, regulations, or laws implemented by a government to influence the economy or meet social goals.

Tax Cut

A Tax Cut is a reduction in the amount of taxes that individuals or corporations are required to pay to the government, often aimed at stimulating economic growth.

President Bush

refers to either George H.W. Bush, the 41st President of the United States (1989–1993), or his son George W. Bush, the 43rd President (2001–2009), both of whom had significant impacts on U.S. and global affairs.

Economy

An area of the production, distribution, and trade, as well as consumption of goods and services by different agents in a particular geographic region.