a. On the basis of the three individual demand schedules below, and assuming these three people are the only ones in the society determine the collective demand schedule on the assumption that the good is a public good Instructions: Enter your answers as a whole number. Individual 1 Individual 2 Individual 3 Demand for Public Good Price Qd Price Price Qd Price $16 $16 1. 1. $16 14 2. 2. 14 2. 14 3. 12 3. 12 3. 12 4. 10 4. 10 4. 10 5. 6. 6. 6. 9. 6. 7. 7. 4. 7. 4. 7. 4.
a. On the basis of the three individual demand schedules below, and assuming these three people are the only ones in the society determine the collective demand schedule on the assumption that the good is a public good Instructions: Enter your answers as a whole number. Individual 1 Individual 2 Individual 3 Demand for Public Good Price Qd Price Price Qd Price $16 $16 1. 1. $16 14 2. 2. 14 2. 14 3. 12 3. 12 3. 12 4. 10 4. 10 4. 10 5. 6. 6. 6. 9. 6. 7. 7. 4. 7. 4. 7. 4.
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter5: Difficult Cases For The Market And The Role Of Government
Section: Chapter Questions
Problem 3CQ
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