Microeconomics
Microeconomics
5th Edition
ISBN: 9781319098780
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
Question
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Chapter 17, Problem eWYWL
To determine

How government intervention can improve the production and consumption of these goods.

Concept Introduction:

Artificially Scarce Good:

The good that can be used by everyone simultaneously and it will not reduce the supply or availability for others. But on the other hand, only the people who pay for it can use it. Others cannot. So it is a good which is non rival but excludable.

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