Multiple Choice

A municipality installs a new street light on a public sidewalk. The total cost for the lamp, post, and installation was $3,000, and the electricity to operate it costs $365 per year. On a particular evening, 50 people have already walked under the light and benefited from its illumination. What is the additional cost to society for a 51st person to walk under the light and also benefit from its illumination?

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Updated 2025-07-31

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Introduction to Microeconomics Course

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