Make price quantity chart for each consumer

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Reference no: EM13886576

Individuals A,B and C have the following individual demand curves

QA = 10 – P

QB = 18 – 3P

QC = 14 – .5P

Make a price quantity chart for each consumer. Then add a column showing the total quantity demanded for a private good.

Next show the quantity price chart showing the total demand for a public good.

Graph all 5 demand curves on the same graph.

If the marginal cost is $4 a unit how many units should be bought if the good is a private good? How many units would each individual buy?

If the marginal cost is $4 a unit, how many units should be bought if the good is a public good? How much would each person be willing to pay?

Do consumers of public goods have the same incentives to reveal their true valuations of Public goods as they do of Private goods? Why or why not?

Reference no: EM13886576

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