The Marginal Benefit of a Public Good Is the

question 7

Multiple Choice

The marginal benefit of a public good is the

• A) benefit of the last person's consumption.
• B) marginal benefit of the individual person who places the lowest value on the good, multiplied by the number of people in the economy.
• C) sum of the marginal benefits of all individuals at each quantity.
• D) marginal benefit of the individual person who places the highest value on the good, multiplied by the number of people in the economy.
• E) average of the marginal benefits of all the individuals at each quantity.

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Definitions:

Herfindahl Index

A measure of market concentration, calculated by summing the squares of the market shares of all competitors within an industry.

Clayton Act

A U.S. legislation enacted in 1914 aimed at promoting competition among businesses by prohibiting certain types of anti-competitive practices.

U.S. Justice Department

A federal executive department responsible for the enforcement of the law and administration of justice in the United States.