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True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable." Illustrations include radio and television broadcasts, the services of a lighthouse, national security, and a clean environment. Private markets specially underinvest in the provision of public goods, as it's very difficult to collect revenue from their consumers. More broadly, public goods can refer to any services or goods provided by government as a result of an inability of the private sector to supply those products in acceptable quantity, quality, or accessibility.
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
its elements , scope calculation
#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
Q. What do you meant by Derivatives? Derivatives: A derivative is a financial asset whose resale value depends on the value of other financial assets at different points in tim
what is chemical combination
Q. Explain about Demand - Constrained? Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or s
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
Cyclical Fluctuations: Consider a situation where the value of money above trend indicates an unexpectedly high level of money in the recent past. The model predicts that this
run a s monopoly how will this benefit stakeholders involved, such as the goverment, businesses, and consumers?
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
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