The table sets out total benefit of a public good for Wendy, Sara, and Tom, the only
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The table sets out total benefit of a public good for Wendy, Sara, and Tom, the only people in the society. If the government provided 3 units of the public good, calculate the marginal social benefit.
Transcribed Image Text:
Units of public good 0 1 23 2 3 4 5 Wendy 0 24888 20 40 60 80 Total benefit Sara 0 10 15 20 25 30 100 Tom 0 30 50 60 65 67
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The marginal social benefit equals the sum of the marginal benefits of each ...View the full answer
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