객관식
To find the benefit of an additional unit of a public good, we sum the individual demand curves:
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8. The Types of Goods
Public Goods: Demand Curve and Optimal Quantity
객관식
Which of the following best illustrates the concept of a superimposed demand curve for a public good?
A
Multiplying the individual demand curves to find the aggregate demand
B
Adding the individual demand curves horizontally to find the total quantity demanded at each price
C
Subtracting the lowest individual demand from the highest to find the net demand
D
Adding the individual demand curves vertically to find the total willingness to pay at each quantity
검증된 단계별 안내1
Understand that a public good is characterized by non-rivalry and non-excludability, meaning that one person's consumption does not reduce availability to others.
Recall that for private goods, aggregate demand is found by horizontally summing individual demand curves (adding quantities demanded at each price).
Recognize that for public goods, the total willingness to pay at each quantity is found by vertically summing individual demand curves (adding prices or willingness to pay at each quantity).
Interpret the superimposed demand curve for a public good as the vertical summation of individual demand curves, reflecting the total value society places on each quantity of the public good.
Conclude that the correct method to find the aggregate demand for a public good is to add the individual demand curves vertically, which means summing the willingness to pay at each quantity.
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