b. bec dse of the same reasons that average-total-cost curves are often Cust cur

Question

b. bec dse of the same reasons that average-total-cost curves are often Cust curves often U-shaped? se of increasing coordination problems at low levels of production and au specialization of because of increasing coordi because of constant returns to scale U-shaped workers at high levels of production sing specialization of workers at low levels of production and increasing c. d. ation problems at high levels of production 10. What is the greatest a pu ditficoly the government faces when conducting a cos: benet alysis to determineif it government a. determining whether b. determining whom to award the project contraict c. determining the cost of the good d. determining the value or benefit of the good er government revenue is sufficient to cover the cost of the good reventu Page 4 of 15

Explanation / Answer

d. Assessing the benefit of the public good. Value of public goods are difficult to determine unlike private goods. Valuation of public goods is done through surveys which might not be very accurate if it is biased.

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