Multiple Choice
-The figure above shows the marginal cost and marginal benefit of police protection in Queensland. Police protection is a public good. If Queensland hires 25 police officers, then
A) marginal benefit equals marginal cost.
B) marginal cost will exceed marginal benefit, which means that the efficient number of officers is more than 25.
C) marginal benefit will exceed marginal cost, which means that Queensland should reduce the number of officers it hires.
D) marginal cost will exceed marginal benefit, which means that the efficient number of officers is less than 25.
E) None of the above answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: A good or resource that is both
Q50: To achieve the efficient amount of use
Q51: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -For a common
Q52: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The table above
Q53: Which of the following is the best
Q55: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The figure above
Q56: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The table above
Q57: One important feature that distinguishes a private
Q58: A private good is<br>A) excludable and rival.<br>B)
Q59: Rational ignorance is the decision NOT to<br>A)