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 121 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
Wow, this really help

smrtceo

  • Member
  • Posts: 344
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Black River Brookie Black River Brookie
Fast-flowing waters of the Humber River, Newfoundland, are a challenge to Atlantic salmon migrating Fast-flowing waters of the Humber River, Newfoundland, are a challenge to Atlantic salmon migrating
The river continuum. The river continuum.
Living with Floods Living with Floods
Pregnant woman taking precautions to prevent a toxoplasmosis infection by (a) having someone else ... Pregnant woman taking precautions to prevent a toxoplasmosis infection by (a) having someone else ...
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Video: What is Cholesterols? Introduction to Lipoproteins

For a complete list of videos, visit our video library