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16 The table shows, for two different quantities of good X, the total amount consumers are willing to
pay and the total external benefits that are generated.
quantity of good X
(units)
consumers’ willingness
to pay ($)
total external benefits
($)
3 240 54
4 280 68
What is the additional social benefit when 4 units rather than 3 units are produced?
A $14 B $40 C $54 D $348
What calculation need to be done to get the answer
pay and the total external benefits that are generated.
quantity of good X
(units)
consumers’ willingness
to pay ($)
total external benefits
($)
3 240 54
4 280 68
What is the additional social benefit when 4 units rather than 3 units are produced?
A $14 B $40 C $54 D $348
What calculation need to be done to get the answer
