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

Author Question: Suppose a valley periodically floods. A dam can be built in the river that would prevent the ... (Read 115 times)

neverstopbelieb

  • Hero Member
  • *****
  • Posts: 534
on: Jun 29, 2018
Suppose a valley periodically floods. A dam can be built in the river that would prevent the flooding. Explain how flood control provided by building the dam arguably fits the characteristics of a public good.
 
  What will be an ideal response?

Question 2

Why do firms in a monopolistically competitive industry advertise?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Melissahxx

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: Jun 29, 2018
Answer to Question 1

The dam would be indivisible since it must be a certain size in order to be effective. Once flood control is provided, new homes can be protected at no additional cost. Any one home's protection does not reduce the protection from flooding for any other home. It would be impossible to exclude someone from the benefits of the flood control, so flood control arguably is a public good.

Answer to Question 2

In a monopolistically competitive industry, products sold by firms are differentiated or at least perceived to be different by consumers. Other things being equal, product differentiation can result in more profits. Firms can therefore increase their monopoly power and thus profits by differentiating their own products from those of other firms.


neverstopbelieb

  • Member
  • Posts: 534
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Impacts of glaciers on landscapes can be seen as (a) a U-shaped valley in Labrador, (b) a drumlin fi Impacts of glaciers on landscapes can be seen as (a) a U-shaped valley in Labrador, (b) a drumlin fi
Manmade Floods Reestablish Habitat in the Grand Canyon Manmade Floods Reestablish Habitat in the Grand Canyon
When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive
Capillaries act as bridges between the arteries and veins. Valves in the veins prevent backflow as ... Capillaries act as bridges between the arteries and veins. Valves in the veins prevent backflow as ...
Mississippi River Drainage Basin Mississippi River Drainage Basin
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: The life cycle of protein

For a complete list of videos, visit our video library