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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.
Hi, My Econ prof gives out a sample exam two days before we take the real exam. If I were to submit the sample exam to you, how long would it take to get the answers back?
technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti
the difference between an lc3 and other types of businesses is that
# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup
Determinants of Social Demand for Education - Externalities The state has several objectives of which welfare and development of the people are most important. Promotion of cu
What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,
Determinants of the Income Elasticity of the Demand: The determinants of income elasticity of demand are given below: The Degree of necessity of the commodity.
why is the point outside the production possibility curve(PPC)called unttianable
Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li
can i get a case study on share market or any other company about their exceptions to the law of demand?
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