5. On the basis of the three individual demand schedules in the following table, and assuming these...
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5. On the basis of the three individual demand schedules in the following table, and assuming these three people are the only ones in the society, determine
(a) the market demand schedule on the assumption that the good is a private good and
(b) the collective demand schedule on the assumption that the good is a public good. LO4.3 P Qd (D1) Qd (D2) Qd (D3)
$8 0 1 0 7 0 2 0 6 0 3 1 5 1 4 2 4 2 5 3 3 3 6 4 2 4 7 5 1 5 8 6
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