A small town provides a fireworks display. which is a public good, every fourth of July. For simplicity, assume the town only has two residents: Hayden and Madison. Their demands for the fireworks display are illustrated in the figure to the right. Construct the market demand curve for this public good. 8.00, 7.50- 7.00- 6.50- Use the line drawing tool to draw the market demand ourve (DMarket) for the fireworks display. Properly label this line. Carefully follow the instructions above, and only draw the required objects. 6.00- 5.50- 5.00- 4.50어 DMadison Dhayden 4.00- 3.50- 3.00- 8 2.50- i 2.00- 1.50- 1.00- 0.50- 0.00- B Snipping Tool New O Mode - Delay - X Cancel Options elect the snip mode using the Mode button or click the New utton. Snipping Tool is moving. 10 12 14 16 In a future update, Snipping Tool will be moving to a new Quantity (number of fireworks) Price (dollars per firework)

A small town provides a fireworks display. which is a public good, every fourth of July. For simplicity, assume the town only has two residents: Hayden and Madison. Their demands for the fireworks display are illustrated in the figure to the right. Construct the market demand curve for this public good. 8.00, 7.50- 7.00- 6.50- Use the line drawing tool to draw the market demand ourve (DMarket) for the fireworks display. Properly label this line. Carefully follow the instructions above, and only draw the required objects. 6.00- 5.50- 5.00- 4.50어 DMadison Dhayden 4.00- 3.50- 3.00- 8 2.50- i 2.00- 1.50- 1.00- 0.50- 0.00- B Snipping Tool New O Mode - Delay - X Cancel Options elect the snip mode using the Mode button or click the New utton. Snipping Tool is moving. 10 12 14 16 In a future update, Snipping Tool will be moving to a new Quantity (number of fireworks) Price (dollars per firework)

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter16: Public Goods And Public Choice

Section: Chapter Questions

Problem 1.1P: (Optimal Provision of Public Goods) Using at least two individual consumers, show how the market...

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