(Ref 35-3 Table: Externalities from Parks) Use Table 35-3: Externalities from Parks. The table shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park. Suppose that parks result in positive benefits to the community as a whole but the marginal private benefit that any one individual in the community gets from parks is close to 0. Without government intervention, at the amount of land dedicated to the public park the marginal social benefit will be: O a. $100.- O b. $225. c. $0. O d. $150.
(Ref 35-3 Table: Externalities from Parks) Use Table 35-3: Externalities from Parks. The table shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park. Suppose that parks result in positive benefits to the community as a whole but the marginal private benefit that any one individual in the community gets from parks is close to 0. Without government intervention, at the amount of land dedicated to the public park the marginal social benefit will be: O a. $100.- O b. $225. c. $0. O d. $150.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 42P: Table 12.12, shows the supply and demand conditions for a firm that will play trumpets on the...
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Transcribed Image Text:Table: Externalities from Parks
Marginal
Social
Benefit
Quantity of
Land (acres)
0
34593
$225
200
150
125
100
0
d. $150.
Marginal
Social
Cost
$0
50
150
200
250
450
(Ref 35-3 Table: Externalities from Parks) Use Table 35-3: Externalities from Parks. The table shows the marginal social benefit
and the marginal social cost of preserving various amounts of land in a city for a public park. Suppose that parks result in
positive benefits to the community as a whole but the marginal private benefit that any one individual in the community gets
from parks is close to 0. Without government intervention, at the amount of land dedicated to the public park the marginal social
benefit will be:
O a. $100.
O b. $225.
O c. $0.
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