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(a) Based on general equilibrium model explain the provision of public good. (b) Derive the price consumption curve (PCC). (i) What is means if the

(a) Based on general equilibrium model explain the provision of public good.

(b) Derive the price consumption curve (PCC). (i) What is means if the elasticity of PCC is high, and (ii) what is means if the elasticity of PCC is perfectly elastic.

(d) Is the Theory of Club able to guide a government in providing a public good? Explain your answer

(25 marks)

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