Suppose the Market Consists of 3 Individuals: Citizen A, Citizen

question 133

Multiple Choice

Suppose the market consists of 3 individuals: Citizen A, Citizen B and Citizen C.
If the good shown on the graphs is a public good, and the marginal cost of the 20^th unit is $10, then the optimal quantity of the public good is:

• A)zero.
• B)20 units
• C)less than 20 units.
• D)greater than 20 units.

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Definitions:

Cryptomnesia

A memory bias where a person mistakenly believes their ideas are novel when they are actually sourced from forgotten memories.

Retroactive Interference

A scenario where the understanding of new information obstructs the retrieval of earlier learned knowledge.

Eyewitness Confidence

The level of assurance an individual has about their observations or recollections concerning an event or identity.

Eyewitness Accuracy

The reliability with which witnesses recall the details of events they've witnessed, often questioned due to various factors affecting memory.