Suppose That Scott's Demand for a Public Good Is P

question 101

Multiple Choice

Suppose that Scott's demand for a public good is P = 7 - 0.3Q and that Mike's demand is P = 10 - 1.5Q.The marginal cost is $14.At the optimal quantity of provision,the marginal benefit of the public good is about

• A) 1.67 units.
• B) 3 units.
• C) $1.67.
• D) $3.00.
• E) $14.

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Definitions:

Base Class

A class from which other classes are derived.

Instance Variables

Variables defined in a class for which each instantiated object of the class has its own copy.

Final Modifier

A keyword in Java indicating that a variable cannot be reassigned, a method cannot be overridden, or a class cannot be inherited.

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