A small town provides a fireworks display, which is a public good, every fourth of July....

Transcribed Image Text:

A small town provides a fireworks display, which is a public good, every fourth of July. For simplicity, assume the town only has two residents: Hayden and Madison. Their demands for the fireworks display are illustrated in the figure to the right. Construct the market demand curve for this public good. Use the line drawing tool to draw the market demand curve (DMarket) for the fireworks display. Properly label this line. Carefully follow the instructions above, and only draw the required objects. 8.00- 7.50- 7.00- 6.50- 26.007 5.50- Price (dollars per firework) 5.00- 4.50- 4.00 DMadison 3.50 Hayden 3.00- 8 2.50 2.00- 1.50- 1.00- 0.50- 0.00 10 12 14 16 Quantity (number of fireworks) G A small town provides a fireworks display, which is a public good, every fourth of July. For simplicity, assume the town only has two residents: Hayden and Madison. Their demands for the fireworks display are illustrated in the figure to the right. Construct the market demand curve for this public good. Use the line drawing tool to draw the market demand curve (DMarket) for the fireworks display. Properly label this line. Carefully follow the instructions above, and only draw the required objects. 8.00- 7.50- 7.00- 6.50- 26.007 5.50- Price (dollars per firework) 5.00- 4.50- 4.00 DMadison 3.50 Hayden 3.00- 8 2.50 2.00- 1.50- 1.00- 0.50- 0.00 10 12 14 16 Quantity (number of fireworks) G