The Demand Curve for a Public Good Is Also Called

question 25

Multiple Choice

The demand curve for a public good is also called the

• A)total welfare curve.
• B)marginal social benefit curve.
• C)total social benefit curve.
• D)total willingness-to-pay curve.

---

Definitions:

Least Squares Estimate

A method in statistics for estimating the best-fitting line through a set of points by minimizing the sum of the squares of the differences between observed and estimated values.

Y-intercept

The point where a line crosses the Y-axis of a graph, representing the value of the dependent variable when all independent variables are set to zero.

Critical Value Approach

A method in hypothesis testing that involves comparing the test statistic to pre-determined values to decide whether to reject the null hypothesis.

Model Significant

A measure of the likelihood that the relationships observed in the data occur due to something other than chance.