How do free markets allocate public goods?  How do they allocate private goods?   Is water a public good or a private good?

Q: a. How does the amount produced by a free market compare with the socially-optimal level of…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: The drainage of waste products from the chemical factory, Ultra Chemicals, situated along the banks…

A: The drainage of chemical fertilizers utilized on rural plots along the banks of the Blue River has…

Q: what is public consumption? Explain.

A: The use of goods, as well as services by individuals or households, is known as consumption. There…

Q: In what sense does the demand curve for a pure public good differ from that of a pure private good ?

A: Demand curve: The demand curve is a graphical portrayal of the connection between a decent or…

Q: What is a public good

A: Public goods are referred to those goods which are available for the general people of the country…

Q: Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why…

A: The command-and-control regulation establishes particular pollution emission limitations and/or…

Q: Give an example of a public good and how the free rider problem (causes air pollution) emanates from…

A: Public goods are those goods which are non-rivalrous and non-excludable.

Q: What is an externality?  How do they affect market efficiency?  If an externality is present,…

A: Externality is an economic concept that describes the costs or benefits that a third party bears…

Q: Which statement about the difference between private costs and social costs is TRUE:…

A: Private cost is the cost incurred on the production process.

Q: the following questions. Table 3     a) Refer to Table 3. The table shows marginal private…

A: Marginal social cost (MSC) is the total costs society pays for the production of another unit or for…

Q: What are public goods/services? Provide an example of a public good and say why it is a public…

A: In economics, goods are categorized into four main types on the basis of certain features. These…

Q: The following graph shows the marginal social cost (MSC), the marginal private cost (MPC), and the…

A: Marginal external cost=MSC-MPCMarginal external cost=$2.5-$1.5=$1

Q: By reading the book "the economics of public issues" chapter 5 "the economics of exclusion" Is…

A: On the based of characteristics of different goods, goods can be categorised as public goods,…

Q: How can we solve the externalities that are related to common resources and public goods? Select an…

A: Public goods are those goods which are freely available on the market and whose use does not affect…

Q: What is a practical way in which the free rider problem can be addressed by the private market? A…

A: Option (B).

Q: What are “public goods”? Pick a government good/service that you consume, define what makes it a…

A: Public Goods: It refers to those goods that are generally regulated by the government for all…

Q: When should a private good be produced from an efficiency standpoint?  A.When the marginal cost…

A: Private good are those goods which are excludable and rivalrous .  Example ; food and clothing.…

Q: What is an externality? And why are capitalist economies beset with pollution problems?

A: A capitalist economy is an economy in which private businesses controls and owns capital goods.

Q: To produce honey, beekeepers place hives of bees in the fields of farmers. As bees gather nectar,…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The table below shows cost data for producing different amounts of oil. The market for oil produces…

A: Answer to the question is as follows:

Q: What examples do you have of public goods? What is the free-rider problem?

A: Externality is defined as an external cost or an external benefit to the third party that arises as…

Q: hink about the rival and excludable properties of public goods. To what degree is radio broadcasting…

A: Public goods are those goods which are non-rivalrous and non-excludable.

Q: Give an example of a public good and how the free rider problem emanates from it

A: If consumption of a commodity by one individual does not reduce the amount available for others, the…

Q: If a private good generates external benefits: the external benefit will equal the private benefit…

A: Private good refers to the good that is produced by a profit motive firm that sold the good in the…

Q: Explain what public goods are, and why public goods are provided by the government, u

A: A public good is a common good or service for which making customers pay individually and excluding…

Q: Externalities Do you think that there would be external effects associated with Water from a…

A: A sense of belonging to a community and making a contribution to society is referred to as social…

Q: Examine the view that the best allocation of resources, from society’s point of view, occurs where…

A: Efficiency entails decreasing the number of unwanted commodities, such as the personal period and…

Q: What should the government set their corrective tax to if they want to eliminate 7 units of…

A: Each firm will bear the cost of eliminating certain units of pollution if the corrective tax rate is…

Q: What is the definition of public goods? Why does the private market not produce the efficient…

A: Public goods are the goods that are produced by the government and available to everyone. It has the…

Q: following table shows how the marginal benefit of a service varies for five consumers.   Quantity…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: -0. Which of the following are examples of activities that yield external benefits? a. Your neighbor…

A: An outer advantage or external benefit is the advantage acquired by an individual or firm because of…

Q: Why do economists prefer corrective taxes and tradeable permits over command and control policies as…

A: Economists prefer corrective taxes and tradable permits over command and control policies policies…

Q: Do you think that there would be external effects associated with Water from a uranium mine leaking…

A: Water from a uranium mine leaking into Kakadu National Park is an example of external effect. An…

Q: Four roommates are planning to spend the weekend in their dorm room watching old movies, and they…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Define public goods

A: Public goods and private goods are important concepts of microeconomic theory. To understand…

Q: What are the three problems facing a government trying to determine the optimal quantity of a public…

A: The commodities that tend to benefit all members of a society and are often being provided free of…

Q: Which of the following is a private good? O a highway O a lighthouse O a ballpoint pen national…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: What is the free-rider problem? Why does the free-rider problem induce the government to provide…

A: Free rider problem occurs when people benefits from any goods and service without even paying for…

Q: What are corrective taxes? Why do economists prefer them to regulations as a way to protect the…

A: Corrective tax is the tax enacted to reduce the negative externality in the society. The corrective…