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Instructions: Enter your answers as a whole number. Individual 1 Individual 2 Individual 3 Demand for Public Good Price Qd Price Qd Price Qd Price $8 $8 $8 2. 1. 9. 2. 4. 4 4. 4 4. .5 4. 6. 3 5. 2. 7. 2. 1 7.

Instructions: Enter your answers as a whole number. Individual 1 Individual 2 Individual 3 Demand for Public Good Price Qd Price Qd Price Qd Price $8 $8 $8 2. 1. 9. 2. 4. 4 4. 4 4. .5 4. 6. 3 5. 2. 7. 2. 1 7.

ECON MICRO
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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Problem 05-02 (algo) 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 Publlc Good Book Price Qd Price Qd Price Qd Price Qd $8 $8 $8 2 2 Print 6. 6. 2 3 5. 2 3 4 rences 4. 4 .5 3. 4. 3 6 2 2 2. 6 7. 1 6 8 b. Use the public demand schedule above and the following supply schedule to ascertain the optimal quantity of this public good. Bupply of Public Good Price $21 $18 10 $15 $12 4. $9 $6 $3 61 Optimal quantity=
Transcribed Image Text:Problem 05-02 (algo) 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 Publlc Good Book Price Qd Price Qd Price Qd Price Qd $8 $8 $8 2 2 Print 6. 6. 2 3 5. 2 3 4 rences 4. 4 .5 3. 4. 3 6 2 2 2. 6 7. 1 6 8 b. Use the public demand schedule above and the following supply schedule to ascertain the optimal quantity of this public good. Bupply of Public Good Price $21 $18 10 $15 $12 4. $9 $6 $3 61 Optimal quantity=
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