Which of the Following Describes the Difference Between the Market

question 68

Multiple Choice

Which of the following describes the difference between the market demand curve for a private good and the demand curve for a public good?

• A)The market demand curve for a private good is derived by adding vertically the quantities that consumers demand at each price.The demand curve for a public good is derived by adding horizontally the quantities that consumers demand at each price.
• B)The market demand curve for a private good is derived by adding horizontally the quantity of the good demanded at each price by each consumer.The demand curve for a public good is derived by adding up the price each consumer is willing to pay for each quantity of the good.
• C)The market demand curve for a private good will always is downward sloping.The demand curve for a public good will always is upward sloping.
• D)The market demand curve is drawn holding everything other than the price of the good constant; the demand curve for a public good is drawn by allowing all variables that affect demand to change.

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Definitions:

Unsaturated Fatty Acid

Fatty acids with one or more double bonds in their hydrocarbon chain, essential in the human diet.

Adipic Acid

An industrially significant dicarboxylic acid, used primarily in the production of nylon and other polymers.

Reagent

A substance or compound added to a system to cause a chemical reaction or test if a reaction occurs.

Transesterified

The process of exchanging the organic group R″ of an ester with the organic group R' of an alcohol.