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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
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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