Public goods are normally produced by the government because: Response option group (a) The private production of a public good is not in the interest of the government (b) It is impossible for the private company to charge a reasonable fee to all those who enjoy the benefits of the public good, so it is not profitable to produce such good (c) The private company does not have the necessary technology to produce public goods (d) The public demands that only the government provide public goods (e) None of the above

Public goods are normally produced by the government because: Response option group (a) The private production of a public good is not in the interest of the government (b) It is impossible for the private company to charge a reasonable fee to all those who enjoy the benefits of the public good, so it is not profitable to produce such good (c) The private company does not have the necessary technology to produce public goods (d) The public demands that only the government provide public goods (e) None of the above

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter16: Public Goods And Public Choice

Section: Chapter Questions

Problem 1.1P: (Optimal Provision of Public Goods) Using at least two individual consumers, show how the market...

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First option is "rival in consumption" or "non-rival in consumption" Second option is "excludable" or "non-excludable" Third option is "rival in consumption" or "non-rival in consumption" Fourth option is "excludable" or "non-excludable" Fifth option is "a private good" or " a club good" or "a common resource" or "a public good" Sixth option is "a private good" or " a club good" or "a common resource" or "a public good" Seventh option is "moral hazard" or "adverse selection" or "the Tragedy of the commons"
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