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question 180

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Use the following to answer questions:
Figure: Traffic Lights in Plymouth Use the following to answer questions: Figure: Traffic Lights in Plymouth   -(Figure: Traffic Lights in Plymouth)  Look at the figure Traffic Lights in Plymouth. Plymouth has 1,000 residents. Each of the residents has the same individual marginal benefit per traffic light. Without government intervention, the town will have _____ traffic lights. A)  0 B)  4 C)  8 D)  12
-(Figure: Traffic Lights in Plymouth) Look at the figure Traffic Lights in Plymouth. Plymouth has 1,000 residents. Each of the residents has the same individual marginal benefit per traffic light. Without government intervention, the town will have _____ traffic lights.


Definitions:

Servers

Computers or computer programs that provide data, resources, or services to other computers, known as clients, over a network.

Marginal Revenue

The additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a product or service.

Total Product

The overall quantity of goods or services produced by a firm or an economy over a specific period, often used to measure productivity.

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