The Market Demand for a Public Good Can Be Determined

question 6

Multiple Choice

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 citizen expects to consume at each possible price.
• C)adding up how much each consumer is willing to pay for each unit of the public good.
• D)estimating the value of the benefit that each unit provides and multiplying that by the number of consumers.

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Definitions:

Organizing Tasks

The process of arranging or structuring tasks and activities in an efficient, systematic way to achieve specific goals or outcomes.

Professional Behavior

Conduct that is appropriate and expected in the workplace, characterized by respect, competence, and adherence to ethical standards.

Prioritizing

Sorting and dealing with matters in the order of urgency and importance.

Telephone Call

A communication method that allows two or more people to talk to each other over long distances using devices connected by telephone lines or wireless signals.