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Scenario: Benefits of Social Problems A community public works project will cost $60,000 and will benefit five different individuals. Individual Individual Benefit ($) Individual Cost
Scenario: Benefits of Social Problems
A community public works project will cost $60,000 and will benefit five different individuals.
Individual | Individual Benefit ($) | Individual Cost ($) |
---|---|---|
1 | 1,500 | 2,000 |
2 | 5,500 | 5,000 |
3 | 5,000 | 6,000 |
4 | 25,000 | 21,000 |
5 | 28,00 | 29,000 |
Assignment Details
Important!
It is expected that the assignment will be completed using an Excel spreadsheet using formulas.
- Is this project economically feasible? Please show work in an Excel spreadsheet that lists the benefit for each individual.
- Would this project be approved by a majority at a majority at a referendum?
- Does this project meet the Pareto efficiency improvement criterion?
- If possible, revise the cost shares to allow the project to meet the Pareto criterion and to pass a referendum.
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