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Let suppose there are za identical economic agents, and agent h has the utility function Uh(G, X*) = 2G(1/2) + xt Assume 1 unit of
Let suppose there are za identical economic agents, and agent h has the utility function Uh(G, X*) = 2G(1/2) + xt Assume 1 unit of private good X is needed to produce a unit of public good G. What is the efficiency condition? How much of the public good will be produced? Show what happens to the level of public good provision if agents are myopic
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