The market demand curve for mousetraps is
A) found by summing the quantities of mousetraps demanded at each income level by each buyer.
B) found by summing the prices of mousetraps at each quantity of mousetraps demanded by each buyer.
C) the horizontal sum of the individual demand curves for mousetraps of all the buyers.
D) Both answers B and C are correct.
E) Both answers A and C are correct.
C
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The free rider problem is a situation in which
(a) effluents such as CFCs combine with ozone and decrease concentrations of that protective chemical. (b) one agent secures benefits that others pay for. (c) there are excessive subsidies given to polluting buses or other forms of mass transit. (d) perfect property rights exist.
Most state governments finance their budgets through ____, and most local governments finance their budgets through ____
a. income taxes; property taxes b. property taxes; sales taxes c. sales taxes; property taxes d. income taxes; sales taxes