Imagine that we have found out the demand for a product for three individuals. Each individual's demand can be described by the demand functions: Q ^ A = 10 –2P Q ^ B = 10 –2P Q ^ C = 10 –2P a) What is the total demand function if the product above is a private product? b) What is the total demand function if the product above is a collective product? c) If the total cost of the product is given by the function TC = 7.5Q, what is the optimal quantity if the product is a private product? d) If the total cost of the product is given by the function TC = 7.5Q, what is the optimal quantity if the product is a collective product? e) Briefly state what characterizes a collective commodity with a maximum of one sentence

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