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mrtrombley92 mrtrombley92
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A year ago
Consider a remote village with a limited, freely available water supply and no government intervention in the allocation of water. Economic theory predicts that the water will be

▸ allocated efficiently because users will tend to use the water until marginal cost and marginal benefit are both equal to zero.

▸ allocated efficiently because users will tend to use the water as though it were a public good.

▸ overexploited because users will tend to use the water until the marginal cost of providing the water is zero.

▸ allocated efficiently because users will tend to use the water until the supply and demand are in equilibrium.

▸ overexploited because users will tend to use the water until their marginal benefit is zero.
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Microeconomics

Microeconomics


Edition: 17th
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SaharakSaharak
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