7 of 11 Questions 1 of 2 Attempts Correct Consider the table. 2 Question 100% Number of street lamps 1 2 3 4 5 6 7 1 of 2 Attempts Correct Marginal benefit (in $) 30 26 22 18 14 10 6 3 Question 98.8% Suppose that a small town wants to install street lamps, which are nonrival in consumption and nonexcludable. Each of the 25 2 of 2 Attempts Correct people in the town value street lamps according to the given schedule. 4 Question 100% Street lamps each cost $250 to install. Use this information to answer the questions. 1 of 2 Attempts Correct 5 Question 100% What is the socially optimal number of street lamps? 1 of 2 Attempts Correct street lamps 6 Question 100% 1 of 2 Attempts Correct Suppose that 20 of the 25 townspeople decide that they will 7 Question not help pay for street lamps, and will instead enjoy (for free) 0% street lamps 0 of 2 Attempts the street lamps built by the other five people. What is the maximum number of street lamps that will be built by the 8 Question 100% remaining five people? 1 of 2 Attempts Correct Suppose the town government decides to build street lamps 9 Question 0% and pay for the street lamps through taxation. How much 1 of 2 Attempts $ should each person be taxed to pay for the optimal number of 10 Question street lamps if everyone is taxed equally? 0% 0 of 2 Attempts 11 Question 0% 0 of 2 Attempts