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Author Question: Which of the following statements about the private production of a public good is true? a. ... (Read 50 times)

Mr.Thesaxman

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on: Jul 1, 2018
Which of the following statements about the private production of a public good is true?
 
  a. Private production is not feasible unless government subsidizes it.
  b. Private production is only possible for pure public goods.
  c. Private production is always inefficient.
   d. Private production is provides useful information about consumer preferences.

Question 2

Explain why consumers benefit from a merger between a monopoly producer and its monopoly supplier of labor.
 
  What will be an ideal response?


cdmart10

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

A monopoly supplier of labor sells labor at an inflated wage. If the output monopoly purchases the monopoly source of labor, it will internally price labor at the competitive wage.


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