You Are the Mayor of a Small Town with 2,000

Multiple Choice

You are the mayor of a small town with 2,000 residents.The head of your economic development agency recently conducted a survey in which the 2,000 residents said that a public concert in the center of town would be worth $20 to each of them.Since the concert cost only $5,000 to hold,you organized and held the concert,which everyone in town enjoyed.But when you asked for donations to pay for the concert,you only collected $300.You are convinced that

A) the survey must have overstated how much the concert was worth to each resident; otherwise, you would have collected $40,000 in donations.
B) the cost of the concert exceeded the social benefits.
C) the concert was an example of the Tragedy of the Commons.
D) residents of the town were probably free-riders at the concert.