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1. Assume a market with only two individuals, A and B. The demand of individual A is Q = 10 - P, and individual B is Q" = 5- 2P. Find and graph: The market demand, assuming the good is a pure public god. b. The market demand, assuming the good is a pure private good. a. Hint: Make sure to identify all the kinks throughout the market demands at specifics Q and P.

1. Assume a market with only two individuals, A and B. The demand of individual A is Q = 10 - P, and individual B is Q" = 5- 2P. Find and graph: The market demand, assuming the good is a pure public god. b. The market demand, assuming the good is a pure private good. a. Hint: Make sure to identify all the kinks throughout the market demands at specifics Q and P.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter13: Positive Externalities And Public Goods
Section: Chapter Questions
Problem 24P: Assume that the marginal private costs of a film producing fuel-efficient can; is greater than the...
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1. Assume a market with only two individuals, A and B. The demand of individual A is QA = 10 - P, and individual B is QB = 5-2P. Find and graph: %3D The market demand, assuming the good is a pure public good. b. The market demand, assuming the good is a pure private good. a. Hint: Make sure to identify all the kinks throughout the market demands at specifics Q and P.
Transcribed Image Text:1. Assume a market with only two individuals, A and B. The demand of individual A is QA = 10 - P, and individual B is QB = 5-2P. Find and graph: %3D The market demand, assuming the good is a pure public good. b. The market demand, assuming the good is a pure private good. a. Hint: Make sure to identify all the kinks throughout the market demands at specifics Q and P.
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