Answer the Next Question on the Basis of the Following

question 114

Multiple Choice

Answer the next question on the basis of the following information is 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.
Refer to the information below.If the collective willingness to pay for an additional unit of this public good is $6,then the collective quantity demanded will be:

• A) 1 unit and the socially optimal quantity supplied will be 5 units.
• B) 2 units and the socially optimal quantity supplied will be 4 units.
• C) 3 units and the socially optimal quantity supplied will be 3 units.
• D) 4 units and the socially optimal quantity supplied will be 2 units.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as the rate of increase in real GDP.

Law Enforcement

The system by which some members of society act in an organized manner to enforce the law by discovering, deterring, rehabilitating, or punishing people who violate the rules and norms governing that society.

Advanced Technologies

Modern and cutting-edge technologies that offer significant improvements over existing technologies in terms of performance, efficiency, or capabilities.

Expensive Labor

Refers to labor that has a high cost, often due to skills, experience, or wage regulations that increase the compensation required to employ workers.