The market demand curve for a public good:
A. shows the total number of units that would be produced by the private sector at each possible price.
B. is derived in the same manner as demand curves for private goods.
C. shows the total value that all individuals place on each unit of the good.
D. is derived by horizontally summing all individual demand curves.
Answer: C
You might also like to view...
A monopolistically competitive market is characterized by barriers to entry
a. True b. False Indicate whether the statement is true or false
When countries engage in specialization and international trade, every individual person in those countries will gain
Indicate whether the statement is true or false
In response to the Great Recession of 2007–2009, when did the Federal Reserve first cut the federal funds rate to zero?
A. December 2007 B. June 2008 C. December 2008 D. January 2010
Current income maintenance programs
A) often provide benefits to people who are working and earning substantially more than the poverty level. B) reduce the incentive of recipients to work. C) have safeguards to ensure that recipients work whenever physically able. D) fail to make the income distribution more equal.