Macroeconomics
What does the marginal social benefit curve represent?
What does the marginal social benefit curve indicate?
What does the marginal social cost curve represent in the absence of externalities?
Which of the following is a characteristic of a public good?
If Jane is willing to pay \$6 for a public park and Bob is willing to pay \$4, what is the total value society places on the park?
Which of the following is a real-world example of a public good?
How are quantities added for private goods in demand curve construction?
If three individuals are willing to pay \$2, \$4, and \$6 for a public good, what is the total willingness to pay for this good?
If three individuals are willing to pay \$3, \$5, and \$7 respectively for a public good, what is the total value society places on this good?
How is the market demand curve for a private good constructed?
