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The citizens of Smalltown, Canada like seeing fireworks on Canada Day. Each of the town's 1000 residents places a $5 value on the experience. The
The citizens of Smalltown, Canada like seeing fireworks on Canada Day. Each of the town's 1000 residents places a $5 value on the experience. The cost of putting on a fireworks display is $1000. What is socially optimal? What is the solution?
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