What is the difference between a supply schedule and a supply curve?
What will be an ideal response?
Question 2
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) 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.
C) There is no difference; in both cases the demand curve is determined by adding up the quantities demanded by each consumer at each price.
D) 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.
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