ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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i)A public good
a )costs essentially nothing to produce and is thus provided by the government at a zero price. b)can never be provided by a nongovernmental organization. c) can't be provided to one person without making it available to others as well.
d)generally results in substantial negative externalities.
ii)The market demand curve for a public good
a) shows the total value that all individuals place on each additional unit of the good.
b) is derived in the same manner as demand curves for private goods.
c)is derived by horizontally summing all individual demand curves.
d)shows the total number of units that would be produced by the public sector at each possible price.
iii)The market demand curve for a public good
a) shows the total value that all individuals place on each additional unit of the good.
b)is derived in the same manner as demand curves for private goods.
c) is derived by horizontally summing all individual demand curves.
d)shows the total number of units that would be produced by the public sector at each possible price.
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