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An example of a public good is a fireworks display. Nobody can be excluded from enjoying them, and this leads to a "free-rider" problem. But there are also an "economies of scale" aspect of it: watching a grand fireworks gives much more pleasure than just a few sparkles in a backyard - which leads to the fact that the best fireworks display are those produced by the government (maybe?).
a) What do you say to the idea of a city government imposing a tax on those who watch the fireworks? Give me two reasons to support it, and two reasons not to support it.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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