How Does the Construction of a Market Demand Curve for a Private

question 247

Multiple Choice

How does the construction of a market demand curve for a private good differ from that for a public good?

• A)There is no difference; in both cases the demand curve is determined by adding up the price each consumer is willing to pay for each quantity of the good.
• B)There is no difference; in both cases the demand curve is determined by adding up the quantities demanded by each consumer at each price.
• C)The market demand curve for a private good is determined by adding up the quantities demanded by each consumer at each price but the market demand curve for a public good is determined by adding up the price each consumer is willing to pay for each quantity of the good.
• D)The market demand curve for a private good is determined by adding up the price each consumer is willing to pay for each quantity of the good but the market demand curve for a public good is determined by adding up the quantities demanded by each consumer at each price.

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