Macroeconomics
21st Edition
ISBN: 9781259915673
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 4, Problem 5P
Subpart (a):
To determine
The market demand for public and private goods.
Subpart (b):
To determine
The market demand for public and private goods.
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On the basis of the three Individual demand schedules below, and assuming these three people are the only ones in the society, determine (a) the market demand
schedule on the assumption that the good is a private good and (b) the collective demand schedule on the assumption that the good is a public good
Instructions: Enter your answers as whole numbers (in the gray-shaded cells).
Individual #1
Individual #2
Individual #3
(a) Private Demand
(b) Public Demand
Od
Qd
Price
Qd
Price
Qd
Price
Price
Qd
Price
$8
$8
$8
$8
1
1
7
2
7
2
7
2
7
2
6
3
6
3
6
3
6
3
4
4
4
4
5
5
5
4
5
5
4
5
4
5
4
3
6
6
6
3
6
2
7
2
7
2
7
2
7
1
8
1
8
1
8
1
8
On the basis of the three individual demand schedules in the following table, and assuming these three people are the only ones in the society, determine (a) the market demand schedule on the assumption that the good is a private good and (b) the collective demand schedule on the assumption that the good is a public good.
On the basis of the three individual demand schedules in the following table, and assuming these are the only three people in the
society, determine (a) the market demand schedule on the assumption that the good is a private good and (b) 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
(a) Private Demand
(b) Public Demand
Price
Qd
Price
Qd
Price
Qd
Price
Qd
Price
Qd
$16
0
$16
1
$16
0
$16
1
14
0
14
2
s
14
0
14
2
12
0
12
10
1
10
8
2
8
6
3
6
4
4
4
2
5
2
345678
12
1
12
3
10
2
10
4
8+
3
8
5
6
4
6
6
4
5
4
7
2
6
2
8
Chapter 4 Solutions
Macroeconomics
Ch. 4.A - Prob. 1ADQCh. 4.A - Prob. 2ADQCh. 4.A - Prob. 3ADQCh. 4.A - Prob. 1ARQCh. 4.A - Prob. 2ARQCh. 4.A - Prob. 3ARQCh. 4.A - Prob. 1APCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Use marginal cost/marginal benefit analysis to...Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7P
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