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Public Goods Provision
Consider three consumers indexed by i = {1, 2, 3} with the following demand functions for a public good G: P1 = 100 - 10G, P2 = 200 - 15G, P3 = 300 - 45G where pi is the price consumer i is willing to pay for G.
(a) If marginal cost is constant at $50, what is the private provision of public good G?
(b) If marginal cost is constant at $50, what is the optimal provision level of public good?
(c) If marginal cost is constant at $400, what is the private provision of public good G?
(d) If marginal cost is constant at $400, what is the optimal provision level of public good?
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