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What is the pareto efficient

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Suppose that 10 people live on a street and that each of them is willing to pay $2 for each extra streetlight, regardless of the number of streetlights provided. If the cost of providing g streetlights is given by c(g)=g^2, what is the Pareto efficient(optimal) number of streetlights to provide? (Hint: marginal cost of streetlight is  2g).

Reference no: EM131756563

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