Question

On the basis of the three individual demand schedules below, and assuming these three people are the only ones in the society, determine the collective demand schedule on the assumption that the good is a public good. Responses go into the gray shaded cells. Individual #1 Individual #2 Individual #3 Public Demand Price Qd Price Qd Price Qd Amount Society is Willing to Pay Qd $16 1 $16 1 $16 1 1 14 2 14 2 14 2 2 12 3 12 3 12 3 3 10 4 10 4 10 4 4 8 5 8 5 8 5 5 6 6 6 6 6 6 6 4 7 4 7 4 7 7 2 8 2 8 2 8 8 Use the public demand schedule above and the following supply schedule to ascertain the optimal quantity of this public good. Price Quantity Supplied $50 10 48 8 46 6 44 4 42 2 40 0

          On the basis of the three individual demand schedules below, and assuming these three people are the
only ones in the society, determine the collective demand schedule on the assumption that the good is
a public good. Responses go into the gray shaded cells.
Individual #1
Individual #2
Individual #3
Public Demand
Price
Qd
Price
Qd
Price
Qd
Amount Society
is Willing to Pay
Qd
$16
1
$16
1
$16
1
1
14
2
14
2
14
2
2
12
3
12
3
12
3
3
10
4
10
4
10
4
4
8
5
8
5
8
5
5
6
6
6
6
6
6
6
4
7
4
7
4
7
7
2
8
2
8
2
8
8
Use the public demand schedule above and the following supply schedule to ascertain the optimal
quantity of this public good.
Price
Quantity
Supplied
$50
10
48
8
46
6
44
4
42
2
40
0

On the basis of the three individual demand schedules below, and assuming these three people are the
only ones in the society, determine the collective demand schedule on the assumption that the good is
a public good. Responses go into the gray shaded cells.
Individual #1
Individual #2
Individual #3
Public Demand
Price
Qd
Price
Qd
Price
Qd
Amount Society
is Willing to Pay
Qd
16
116
1
16
1
1
14
2
14
2
14
2
2
12
3
12
3
12
3
3
10
4
10
4
10
4
4
8
5
8
5
8
5
5
6
6
6
6
6
6
6
4
7
4
7
4
7
7
2
8
2
8
2
8
8
Use the public demand schedule above and the following supply schedule to ascertain the optimal
quantity of this public good.
Price
Quantity
Supplied50
10
48
8
46
6
44
4
42
2
40
0

Added by Sarah P.

Question

Please give Ace some feedback