17 a Is the town’s street lighting a private good or a public good?

b Suppose that Sam and Nick are the only residents of the town. Draw a graph to show the marginal social benefit from the town’s street lighting.

The table sets out the marginal benefits that Sam and Nick receive from the town’s street lighting:

Transcribed Image Text:

Marginal benefit Nick (pounds per street light) Number of Sam street lights 1 10 23 12 8 6 4 9 630 4 5 2