BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

Solutions

Chapter
Section
BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Why does the market fail to produce nonexcludable public goods?

To determine

Explain the reason why market fails to produce non-excludable public goods.

Explanation

A public good refers to those goods that have the characteristics of non-rivalry and non-excludability in nature. One person’s consumption should not reduce the availability for the other person. In other words, it is not possible to restrict other people from availing the goods they desire. Generally, public goods face free rider problem that is the benefit can be available without paying for it...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Use a production possibilities frontier to describe the idea of efficiency.

Principles of Microeconomics (MindTap Course List)

What are the disadvantages of a partnership?

Foundations of Business (MindTap Course List)

BEP, ROE, AND ROIC Duval Manufacturing recently reported the following information: Net income 600,000 ROA 8% ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)