The market demand for a public good can be determined by
A) adding up the total private benefits and external benefits that each quantity provides the citizens of a country.
B) adding up how much each consumer is willing to pay for each unit of the public good.
C) adding up how much each citizen expects to consume at each possible price.
D) estimating the value of the benefit that each unit provides and multiplying that by the number of consumers.
B
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The labor force consists of
A) the number of people who unemployed and who are actively seeking work. B) the number of people who are employed. C) the number of people who are employed minus the number of the people who are unemployed. D) all people in the population aged 16 and over who are not in jail, a hospital, or an institution or in the U.S. Armed Forces. E) the number of people in the working-age population who are employed or unemployed.
Jessica paid $5,300 for a bond with a face value of $5,000. She will be paid $300 annually as long as she holds on to the bond, until the bond's maturity date. The coupon rate of the bond is
A. 6.0 percent. B. 5.7 percent. C. 13.0 percent. D. 9.2 percent.
Market failures occur whenever
A) private returns may be greater than social returns. B) social returns may be greater than private returns. C) the free market produces less than what is socially optimal. D) monopolies exist in a market. E) All of the above.
Slaver owners were optimistic about the economic future of slavery on the eve of the Civil War
Indicate whether the statement is true or false