ECON 2010 FINAL

Table total cost and total individual benefit the

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Unformatted text preview: ther, how many officers would they hire? A) 3 B) 5 firm produces until MC=MRevenue C) 1 and individual consumes until MBenefit= MC D) 0 48. (Table: Total Cost and Total Individual Benefit) The table shows the total cost and total individual benefit of animal control for residents of a small town. If there are 1,000 residents, what is the marginal social benefit of the fourth animal control officer? A) $10,000 B) $90,000 Individual benefit of 4th animal control officer is 10, there are C) $9,000 D) $10 1,000 residents so multiply 1,000x10=10,000 49. (Table: Total Cost and Total Individual Benefit) The table shows the total cost and total individual benefit of animal control for residents of a small town. If an individual resident were to decide about hiring and paying for animal control officers on his or her own, how many officers would that resident hire? A) 1 B) 5 C) 0 because the individual benefit is 21 where the TC is 20. D) 3 And you want them to be equal Version 1 Page 11 50. (Table: Total Cost an...
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This document was uploaded on 02/18/2014 for the course ECON 2010 at Colorado.

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