Use the Following to Answer Questions

question 123

Multiple Choice

Use the following to answer questions :
Figure: Market Failure
-(Figure: Market Failure) Use Figure: Market Failure.Suppose that the supply curve represents the marginal cost of providing streetlights in a neighbourhood where only two people,Ann and Joe,reside.The demand curve represents the marginal benefit that Ann receives from the streetlights.Suppose that Joe's marginal benefit from the streetlights is a constant amount equal to the vertical distance A-C.How much is Ann willing to pay for E streetlights?

• A) 0
• B) A
• C) B
• D) C

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Definitions:

Technological Change

Refers to the process of innovation and the adoption of new or improved technologies, products, or processes within an organization or society.

Work Needs

Requirements or necessities that individuals seek to fulfill through their employment, such as income, satisfaction, and development opportunities.

Organizations

Entities comprising multiple people, such as corporations, governments, non-profits, and clubs, structured to achieve specific goals.

Manipulation And Co-optation

Strategies used by individuals or groups to influence others subtly or by bringing opposition into a supportive relationship through concessions.