Author Question: Which of the following statements about the private production of a public good is true? a. ... (Read 57 times)

Mr.Thesaxman

  • Hero Member
  • *****
  • Posts: 514
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

  • Sr. Member
  • ****
  • Posts: 332
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

For a complete list of videos, visit our video library