Write down equation for market demand for hamburgers

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Reference no: EM131242549

Bill’s demand for hamburgers (a private good) is Q = 21 − 6P and Ted’s demand is Q = 6 − 3P.

a. Write down an equation for market demand for hamburgers.

b. Now suppose that hamburgers are a public good. Write down an equation for the social marginal benefit of hamburger consumption.

Reference no: EM131242549

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