ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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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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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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