Question

On the basis of the three Individual demand schedules below, and assuming these three people are the only ones in the society, determine (a) the market
demand schedule on the assumption that the good is a private good and (b) the collective demand schedule on the assumption that the good is a public good.
Instructions: Enter your answers as whole numbers in the gray-shaded cells).
Individual #1
Individual #2
Individual #3
Price Qd Price
Qd Price Qd
(b) Public Demand
(a) Private Demand
Qd
Price
Price
Qd
0
$8
1
$8
1
$8
$8
7
+
1
0
7
2
7
2
7
2
6
6
3
3
6
3
ono
5
5
4
4
5
4
CON
4
4
5
4
5
4
5
كما
4
3
6
CO
6
3 2
3 2
2
5
2
7
7
7
1
6
1
8
1
8
1
8

Answer 1

Answer:

Demand

Public Good

Price Qd

42.....1

36....2

30....3

24....4

18.....5

12.....6

6.....7

2....8

Explanation: