Solved

The Following Information Is for a Public Good

Question 70

Multiple Choice

The following information is for a public good.Pa and Pb are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.If this good were a private good instead of a public one, the total quantity demanded at a $3 market price would be: The following information is for a public good.P<sub>a</sub> and P<sub>b</sub> are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it.These people are the only two members of society.If this good were a private good instead of a public one, the total quantity demanded at a $3 market price would be: A) 2 units. B) 3 units. C) 6 units. D) 4 units.


A) 2 units.
B) 3 units.
C) 6 units.
D) 4 units.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q5: Which of the following is correct?<br>A)Private goods

Q65: The following information is for a public

Q66: Answer the question based on the following

Q67: The following information is for four highway

Q68: Refer to the diagram.The area of producer

Q71: The proposition that under some circumstances externalities

Q73: Refer to the supply and demand graph

Q74: Refer to the diagram.The area of consumer

Q75: Answer the next question on the basis

Q76: The socially optimal amount of pollution moderation