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The table below shows the marginal benefits that each of the five residents of an area receive from additional street lights, which are public goods
The table below shows the marginal benefits that each of the five residents of an area receive from additional street lights, which are public goods (non-rival and non-excludable). The cost of each additional street light is $60. Assume that each individual only considers their own marginal benefit of streetlights when making decisions (in other words, an individual's willingness to pay is based only on their own use of the street light, regardless of any benefits that others might receive).
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