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Ingy_ Ingy_
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4 years ago

Question 1.

All of the following are examples of public goods except



▸

clean water systems.



▸

crime prevention.



▸

broadcast television with commercials.



▸

stock of knowledge in the public domain.



Question 2.

The free rider problem refers to a situation in which



▸

markets fail to allocate resources efficiently when benefits outweigh costs.



▸

high income individuals subsidize the production of goods, such as education, that make society better off.



▸

people consume a pure public good without payment, even though the good may not be produced if no one chooses to pay.



▸

the marginal cost of allowing additional consumers to consume a public good is zero.

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InMicro

InMicro


Edition: 1st
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jesika1122jesika1122
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Ingy_ Author
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#2
4 years ago
Thanks
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