Let Sandra’s demand for thingamajigs be P = 10 – q and let Ricky’s demand for thingamajigs be P = 6 – q/2. Let the price equal marginal cost be $4. a. Graph the market demand and efficient quantity assuming thingamajigs are a private good. b. Graph the market demand and efficient quantity assuming thingamajigs are a public good.

## Solution:

##
Looking for help with your homework?

Grab a 30% Discount and Get your paper done!

Place an Order