Title: The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public ... Post by: deroth on Oct 16, 2022 The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public good. This economy has 3 individuals, A, B and C. The diagram shows the MB for each individual and a summation of their marginal benefits. ▸ the appropriate price would be achieved, although not enough would be consumed. ▸ the inefficient quantity would be being produced. ▸ consumers would use too little of the public good, and this would be inefficient for society. ▸ consumers would not use the public good at all, and this would be socially optimal. ▸ the market would clear, although not enough would be produced. Title: The diagram below shows the marginal benefit of consuming, and marginal cost of providing, a public ... Post by: livewelldreambi on Oct 16, 2022 Content hidden
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