Identify the Optimal Quantity of a Public Good Imagine that many residents of a
Chapter 14, Problem 30(choose chapter or problem)
Identify the Optimal Quantity of a Public Good Imagine that many residents of a riverside community wish to have a break wall built around their town to protect their homes when the river floods. The cost of construction is $100,000 per 100 yards. The break wall will have no value unless it is 1,800 yards long to surround the entire community. The people of the community have voted to spend up to $1,000,000 for the break wall. How much of this amount should they spend? How does this situation demonstrate a problem of achieving an efficient level of public goods?
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