Business, 25.08.2020 15:01 brobertson72

There are three consumers of a public good. The demands for the consumers are as follows: Consumer 1: P1 = 60 – Q Consumer 2: P2 = 100 – Q Consumer 3: P3 = 140 – Q where Q measures the number of units of the good and P is the price in dollars. Now the marginal cost of the public good is $ 60 . What is the economically efficient level of production of the good?

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There are three consumers of a public good. The demands for the consumers are as follows: Consumer 1...

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