Answer the Next Question on the Basis of the Following

question 78

Multiple Choice

Answer the next question on the basis of the following information for public good.P_a and P_b represent the prices that citizens (a) and (b) , the only two people in this nation, are willing to pay for additional units of a quantity (Q_c) of the public good.Q_s represents the quantity of the public good supplied by government at each of the collective prices.The collective willingness of this nation to pay for the fourth unit of the public good is:

• A)$7
• B)$6
• C)$5
• D)$3

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Definitions:

Independent

Not influenced by or contingent on something else; in statistics, two events are independent if the occurrence of one does not affect the probability of the other.

Organic Product

A chemical compound or substance that has been synthesized through an organic reaction, which can include a wide variety of chemical species.

Reaction

A process in which one or more substances, the reactants, are converted to one or more different substances, the products, via a chemical change.

Dilute Acid

An acid solution that has a low concentration of hydrogen ions compared to its amount of solvent, typically water.