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Use the Figure Below to Answer the Following Questions

Question 3

Multiple Choice

Use the figure below to answer the following questions. Use the figure below to answer the following questions. Figure 16.2.1 -Refer to Figure 16.2.1.Curve MB<sub>A</sub> is Andrew's marginal benefit curve for a private good and curve MB<sub>B</sub> is Betty's marginal benefit curve for the same private good.If Andrew and Betty are the only two consumers in the economy,which point would be on the economy's marginal social benefit curve? A) price of $20,quantity of 3 units B) price of $20,quantity of 4 units C) price of $10,quantity of 4 units D) price of $30,quantity of 0 units E) price of $60,quantity of 1 units Figure 16.2.1
-Refer to Figure 16.2.1.Curve MBA is Andrew's marginal benefit curve for a private good and curve MBB is Betty's marginal benefit curve for the same private good.If Andrew and Betty are the only two consumers in the economy,which point would be on the economy's marginal social benefit curve?


A) price of $20,quantity of 3 units
B) price of $20,quantity of 4 units
C) price of $10,quantity of 4 units
D) price of $30,quantity of 0 units
E) price of $60,quantity of 1 units

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