How does the problem of limited and bundled choice in the public sector relate to economic efficiency? Why are public bureaucracies possibly less efficient than business firms?

Q: What is meant by the concept "laboratories of democracy"? Why do you think state and local…

A: The concept of "laboratories of democracy" coined by Louis Brandeis states that certain social and…

Q: positive and negative externalities

A: In the economy different types of goods are supplied because the need and want of the human beings…

Q: What characteristic of public goods makes it very difficult for private firms to provide (or provide…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain the main sources of inefficiency in the public sector

A: The main sources of inefficiency in public sector are  Government interference: one of the major…

Q: 1) Besides raising revenue, what is the most likely goal of government that enacts a per unit tax.…

A: Hi! Thank you for the question but as per the guidelines, we answer only one question at one time.…

Q: Public Good

A: A public good is a good which is both non-excludable as well as non-rivalrous in nature.

Q: describe the four different categories of legislation based on the distribution of costs and…

A: The four categories of legislation are based on concentrated and widespread costs and benefits.…

Q: Determine whether the statements is true, false, or uncertain.  If the statement is false or…

A: In economics, coase theorem is used to explain the solution of inefficiency in the market due to…

Q: Taxing the production of the good

A: Explanation:   Suppose that the marginal social value of manufacturing an honest is bigger at the…

Q: Explain verbally and with a graph the concept of Positive Externalities. Explain all elements of the…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: How does social protection, as an area of government spending, both positively and negatively impact…

A: Social protection basically refers to the government's policies and various programs to reduce…

Q: (a) Reason out and show theoretically that except when individuals have quasilinear preferences,…

A: The quasilinear form is unique in that the demand operations for all but one of the consumption…

Q: A government decides that product X is a demerit good and product Y is a public good. Which policy…

A: "Correct answer is option d."

Q: Suppose a political candidate criticizes a government pollution permit policy that she says lets…

A: The political candidate's argument disputes with standard economic idea because tradable pollution…

Q: Assuming the government pays higher cost of production by paying wages that are higher than the…

A: As the government pays higher cost of production by paying wages higher than the market wage rate or…

Q: Suppose a political candidate criticizes a government pollution permit policy that she says lets…

A: Answer: Correct option: (2) A free market in tradable pollution permits is typically more efficient…

Q: Why might citizens interested in maximizing economic efficiency be happy to invest their government…

A: The economic efficiency is a situation in which all the economic resources are being efficiently…

Q: Adam Smith believed that the pursuit of the public interest is also the best way to promote the…

A: Adam Smith was one of the first financial experts/economists to clarify how rational self-interest…

Q: When should a private good be produced from an efficiency standpoint?  a-When the sum of all of…

A: Private good refers to the good that is rivalrous as well as excludable. The private goods are…

Q: public finance

A: Public finance deals with the way in which the state acquires and expends its means of subsistence.…

Q: terms of the four major theories of the social responsibility of business. which one of the…

A: 1a) Ethical Action one of the hypotheses I most enthusiastically support, and on the grounds that…

Q: Economics Present a model of public good provision. What is the Pareto efficient quantity of the…

A: Present a model of Public Good Provision Goods that are perfectly non-rival in consumption and…

Q: (Negative Externalities) Suppose you wish to reduce a negative externality by imposing a tax on the…

A: The in cases, where the actions of one individual affect the other agents negatively, usually…

Q: What is a market-failure rationale for the government investing in transportation and…

A: A market-failure rationale for the government investing in transportation and infrastructure, for…

Q: . Directions: Below is a list of the six economic functions of government, followed by a set of 12…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: For which of the following problems can well-designed public policy enhance economic efficiency?…

A: Economic efficiency is achieved where all the factors of production and goods are allocated to the…

Q: Which party does Coase see as the responsible party when there is a real negative externality? How…

A: Externalities means the negative or positive effect of economic activities on person's well being…

Q: Determine whether the statements is true, false, or uncertain.  If the statement is false or…

A: Negative externality refers to the situation when there is an adverse impact of one's action on any…

Q: What can the government do to solve the problem of inadequate levels of public goods? Explain how…

A: inadequate levels of public goods refers to the market failure and in economics, market failure is a…

Q: Discuss how public sector budgets reflect accountability ?

A: A budget is an estimate of revenue and expenditure for a given future period, and is typically…

Q: Suppose the govt provides a public education through public schools worth $10,000 to each child. How…

A: The crowding out is an economic concept that shows how rise in public expenditure chokes private…

Q: Radio stations, tornado sirens, lighthouses, and street lights are all public goods in that all are…

A: Public goods have two characteristics. Public goods are non-excludable and non-rivalrous. The first…

Q: In Figure 17.3, the government may optimally regulate the paper market by taxing output. Given that…

A: Cost of production  Manufacturing cost or the cost which is incurred by the firm and industry at the…

Q: Name several nongovernmental regulatory forces.Do you believe self-regulation is more or…

A: Non-governmental: Associations free of government contribution are known as non-administrative…

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: 6. Charlie loves watching Downton Abbey on his local public TV station, but he never sends any money…

A: Given Charlie loves watching Downtown Abbey on his local public TV station, but he never send any…

Q: Explain briefly why the shape of the demand curve for the public good is downward sloping for HHA…

A: Public goods refer to those goods which are nonrival and nonexcludable such that one person does not…

Q: Which of the following would tend to make it challenging for governments to provide the correct…

A: Tax is the amount of money that government imposes on the commodity or income of an individual.