Use the figure to work Problem shows the marginal social benefit and marginal social cost of a
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Use the figure to work Problem shows the marginal social benefit and marginal social cost of a waste disposal system in a city of 1 million people.
If voters are well informed about the costs and benefits of the waste disposal system, what capacity will voters choose? If voters are rationally ignorant, will bureaucrats install the efficient capacity? Explain your answer.
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If voters are wellinformed a system with a capa...View the full answer
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