Bills demand for hamburgers (a private good) is Q = 20 2P and Teds demand is
Question:
Q = 10 – P.
a. Write down an equation for the social marginal benefit of the consumption of hamburgers.
b. Now suppose that hamburgers are a public good. Write down an equation for the social marginal benefit of hamburger consumption.
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a The social marginal benefit from the Qth hamburger is ...View the full answer
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