3. Bills demand for hamburgers (a private good) is Q = 20 2P and Teds demand...
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3. Bill’s demand for hamburgers (a private good) is Q = 20 2P and Ted’s demand is Q = 10 P.
a. Write down an equation for the social marginal benefit of the consumption of hamburger consumption.
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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