You and three of your friends go to a restaurant for dinner. All four of you agree to divide the total bill equally amongst yourselves. One of your friends orders a dish worth INR 400. The marginal cost for ordering the dish for each one of you in INR is ______ (in integer)
GATE 2026 Question 42: Market failure, externalities and public goods
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Market failure, externalities and public goods has come up 114 times in 7 exams since 2006.
What this question tests
This question is on Common-pool resources and the tragedy of the commons, part of Market failure, externalities and public goods in Microeconomics.
Overuse of resources that anyone can access, and the policies that limit it.
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