Assume that some individual's marginal valuation of public goods increases. What does this do to the Pareto
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Assume that some individual's marginal valuation of public goods increases. What does this do to the Pareto efficient level of public expenditures? If this individual is not the median individual, what will happen in a two-party system to the equilibrium level of expenditure on public goods? If the equilibrium was originally Pareto efficient, will it still be?
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Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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