(Scenario: Private and External Benefits)Use Scenario: Private and External Benefits

question 145

Multiple Choice

(Scenario: Private and External Benefits) Use Scenario: Private and External Benefits.The community estimates the marginal benefit to external parties from lawn upkeep to be $15.Given this information,what is the socially optimal amount of lawn upkeep for this community? Scenario: Private and External Benefits
A small community finds that tidy lawns and neighborhoods provide both private and external benefits.They determine that the marginal private benefit (MPB) of lawns can be represented by the equation MPB = 50 - 0.5Q,where Q is the number of hours spent on keeping lawns tidy.The marginal private cost (MPC) of such lawn upkeep is represented by the equation MPC = 0.5Q,where Q is again the number of hours engaged in lawn upkeep.

• A)0 hours
• B)45 hours
• C)50 hours
• D)65 hours

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