Benefits of social programs

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Reference no: EM1347960

A community-based public works project costing $55,000 will benefit five separate individuals as given below:

Individual #, Benefit ($), Cost Share ($)

1$1,000 $1,500

2 $5,000 $4,500
3 $4,000 $5,000
4 $20,000 $18,000
5 $25,000 $25,500

In Excel spreadsheet, show whether this project is economically feasible. Would the majority approve this project (explain)? Does the project meet Pareto efficiency criterion (explain)? Revise the cost shares to meet Pareto criterion and get the referendum passed by a majority vote.

Reference no: EM1347960

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