00:01
Hello everyone, so let's solve the question.
00:05
So here the demand curve provides marginal benefit values for each unit on its consumed benefit for the second unit of 20 .3 .5.
01:43
Hayden's marginal benefit for the second unit of 20 is $4.
02:20
Since it is a public good, the market's marginal benefit for the second unit of 20 is $7 .50.
03:22
Therefore, one point of the market demand curve is q equal to 2p equal to 7 .5.
04:16
The medicine marginal benefit for the 14th unit of 20 is $7 .50.
05:03
Since it is a public good, the market marginal benefit for the 14th unit of 20 is $0 .25.
06:29
Therefore, another point of the market demand curve is q is equal to 14 and p is equal to 3.
07:15
Now let us make a graph for it.
07:25
So there is a blue line that is x and y.
07:41
So on the x quantity given is the y -axis and is the x...