(Scenario: Ben and Nik)Use Scenario: Ben and Nik

question 13

Multiple Choice

(Scenario: Ben and Nik) Use Scenario: Ben and Nik.At Q₂ in the figure,the marginal social benefit from the last unit of the public good is: Scenario: Ben and Nik
Ben and Nik are the only members of a community.They have revealed the marginal private benefits they each receive from a public good whose marginal social benefit is known.In addition,the marginal social cost (MSC) of the public good is known and is constant.

• A)equal to the marginal social cost.
• B)equal to P₄ + P₃.
• C)the optimal level of provision of the public good.
• D)zero for Nik.

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Definitions:

Clay Tablets

Ancient writing materials made from clay, used primarily in Mesopotamia, for recording texts, transactions, or events.

Mesopotamia

An ancient region located in the eastern Mediterranean, broadly corresponding to present-day Iraq, northeastern Syria, southeastern Turkey, and parts of western Iran, known as the cradle of civilization.

Recordkeeping

The practice of maintaining and preserving records or documents detailing an organization's or individual's activities and transactions.

Bronze Metallurgy

The practice and knowledge involved in producing bronze, an alloy of copper and tin, used in tools, weapons, and sculptures in ancient times.