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Ed, Mike, and Scott Are the Only Three People in a Community

Question 36

Multiple Choice

Ed, Mike, and Scott are the only three people in a community and Ed is willing to pay $20 for the 5th unit of a public good; Mike, $15; Scott, $25.The government should produce the 5th unit of the public good if the marginal cost is:


A) less than $150.
B) less than $100.
C) less than $60.
D) less than $300.

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