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A home-team baseball victory produces benefits for residents in terms of hometown pride) that is both nonrival and non excludable The graph on the right depicts the marginal benefits that Beatrice

A home-team baseball victory produces benefits for residents (in terms of hometown pride) that is both nonrival and nonexcludable. The graph on the right depicts the marginal benefits that Beatrice, Edward, and Charlotte (the residents of a very tiny town indeed) receive from hometeam wins. The graph also depicts the marginal costs of achieving each victory. a. Draw the total marginal benefit received by hometown residents. Graph your result carefully. b. Determine the socially optimal number of wins. Indicate this amount on your graph

Apr 08 2020 View more View Less

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