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cjr4808 cjr4808
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A year ago
Determining How Much of a Public Good to Supply

Jack and Jill both own businesses on a deserted road and both need a security guard. Once a security guard is hired, the guard will be able to protect both businesses despite who hires the security guard. The table shows the price Jack and Jill are willing to pay for each hour of protection.
Quantity (hours of protection)Jill's willingness to pay (dollars per hour)Jack's willingness to pay (dollars per hour)
176​74​
274​72​
372​70​
470​68​
568​66​
Suppose the security guard has a constant marginal cost of $138 dollars an hour. What is the optimal number of hours of security guard services?

▸ 1 hours

▸ 4 hours

▸ 0 hours

▸ 3 hours
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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jd1044jd1044
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A year ago
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cjr4808 Author
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A year ago
Thanks for your help!!
husne
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Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
Tabitha.davis
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2 hours ago
Brilliant ツ
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