Suppose a Public Good Is Provided in an Economy with Only

question 46

Multiple Choice

Suppose a public good is provided in an economy with only two consumers, Popeye and Captain Hook. If Popeye values the public good at $4,000 per year, and Captain Hook values it at $3,000 per year, the economy's marginal benefit of the public good per year is

• A) $4,000.
• B) $1,000.
• C) $7,000.
• D) $3,000.
• E) $12,000.

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Definitions:

Kinship Networks

Social networks formed by ties of blood, marriage, or adoption, providing support and promoting shared norms and values.

Self-Sufficient

Capable of meeting one's own needs without external help, showing independence in various aspects of life.

Child Abuse

The physical, sexual, emotional mistreatment, or neglect of a child.

Role Models

Individuals admired for their qualities or achievements and regarded as an example to be imitated.