Answer to Question 1
Goods like clean air and street lighting are public goods. This means that individuals can consume these goods even without paying for them as they are non-rival and non-excludable. Such goods present particular problems for markets to provide because consumers have an incentive to act as free-riders; they can consume public goods even if they do not pay for them. Therefore, the problem with efficiently providing public goods is that consumers aren't willing to pay for them because no one can be excluded from consuming them once they are provided.
Answer to Question 2
Rule of reason is the criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal (unreasonable) or legal (reasonable) under the terms of the Sherman Act.
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Scrub the nails with a nail brush to loosen oil and dirt. Clean under the nails.
(A) A brisk half-moon stroke is an efficient technique to use with the body brush or exfoliation ...
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Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...