Question
1. (a) Since you can consume a public good without paying for it, how does your consumer surplus change if you watch a 4th of
1. (a) Since you can consume a public good without paying for it, how does your consumer surplus change if you watch a 4th of July fireworks show for just one hour versus until when it ends at midnight in a small town USA? How would the producer surplus change for each?
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
