Examlex

Solved

The Following Information Is for a Public Good

question 132

Multiple Choice

The following information is for a public good.Pa and Pb are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.The collective willingness of this society to pay for the 2nd unit of this public good is: The following information is for a public good.P<sub>a</sub> and P<sub>b</sub> are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.The collective willingness of this society to pay for the 2<sup>nd</sup> unit of this public good is:   A) $2 B) $4 C) $6 D) $8


Definitions:

Nonconformity

A deviation or failure to meet specified standards or requirements, often related to quality control in manufacturing or service delivery.

Organic Café

A café that serves food and drinks made with ingredients that are grown without synthetic pesticides, GMOs, or artificial fertilizers.

Insurable Interest

A legal requirement for purchasing insurance, indicating that the person buying the insurance must stand to suffer financial loss or hardship from the damage, loss, or destruction of the property insured, or from the death or injury of the person insured.

Insure Against Damage

The act of securing an insurance policy to protect against financial loss due to physical damage to property or goods.

Related Questions