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Author Question: What are public goods? What will be an ideal response?[br][br][b][color=#165FFA]Question ... (Read 71 times)

geoffrey

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on: Jun 29, 2018
What are public goods?
 
  What will be an ideal response?

Question 2

If the price of a good falls and expenditure on the good rises, the demand for the good is _______.
 
  A. elastic
  B. perfectly elastic
  C. inelastic
  D. unit elastic


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skipfourms123

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Public goods are goods or services that bestow collective benefits on members of society. Generally no one can be excluded from enjoying their benefits.

Answer to Question 2

A The total revenue test on page 121 shows that demand is elastic.


geoffrey

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

cdmart10

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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