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Author Question: What is the difference between a supply schedule and a supply curve? What will be an ideal ... (Read 60 times)

melly21297

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on: Jun 29, 2018
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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Anonymous

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A supply schedule is a table that shows the relationship between the price of a product and the quantity of the product supplied. A supply curve is a curve that shows the relationship between the price of a product and the quantity of the product supplied.

Answer to Question 2

D


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