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:

Visceral Sensation

The internal sensations such as pain or pressure, perceived from within the body's internal organs.

Proprioception

Information about the position of the body and its various parts.

Sensory Receptors

Specialized cells or nerve endings that detect and respond to stimuli, such as light, sound, touch, and temperature, facilitating perception.

Perception

The cognitive process of interpreting and making sense of sensory information to understand the environment around us.