Multiple Choice
-Mike, Joe, and Sam are roommates. They need lamps for their common living room. Lamps in their living room are a public good for these roommates. The marginal benefit that each individual receives from varying numbers of lamps in the living room is given in the table above. If the marginal cost of a lamp is 9, what is the efficient number of lamps for the roommates to purchase?
A) 1
B) 2
C) 3
D) 4
Correct Answer:
Verified
Correct Answer:
Verified
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