This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How do public goods differ from private goods? What will be an ideal ... (Read 126 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
How do public goods differ from private goods?
 
  What will be an ideal response?

Question 2

Which of the following is a determinant of supply?
 
  A) tastes and preferences of consumers
  B) technology
  C) consumer income
  D) number of consumers


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A private good is characterized by the principle of rival consumption, which means that one person's consumption of a good reduces the amount available for someone else. A public good is not characterized by the principle of rival consumption. Public goods can be used by more people at no additional cost. Further, once the good is produced, it is usually impossible, or at the very least difficult, to exclude anyone from consuming it.

Answer to Question 2

B


moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
:D TYSM

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

In a public aquarium In a public aquarium
Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Introducing Public Administration, 8/E Introducing Public Administration, 8/E
Prime Numbers & Public Key Cryptography Prime Numbers & Public Key Cryptography
Video: Cardiac conductile cells

For a complete list of videos, visit our video library