Suppose Scott's demand for a public good is P = 7 - 0.3Q and Mike's demand is P = 10 - 1.5Q. The equation for the total demand for the public good is:

Name: Suppose Scott's demand for a public good is P = 7 - 0.3Q and Mike's demand is P = 10 - 1.5Q. The equation for the total demand for the public good is:
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Question

Quizplus · Accepted Answer

Constructing the demand curve for a public good entails the vertical (not the horizontal)summation of individual demand curves. Here, P = (7 - 0.3Q)+ (10 - 1.5Q)= 17 - 1.8Q.

Suppose Scott's Demand for a Public Good Is P =