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 86 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
Great answer, keep it coming :)

helenmarkerine

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Wahkeena Falls at Columbia River Gorge in Oregon in the autumn. Wahkeena Falls at Columbia River Gorge in Oregon in the autumn.
Floods and Flash Floods Floods and Flash Floods
Valley Temple Of Khafre Valley Temple Of Khafre
An eager graduate student at Carleton, counts geese in the marshes off the Ottawa river. In ... An eager graduate student at Carleton, counts geese in the marshes off the Ottawa river. In ...
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
US Airways Flight 1549 floats in New York’s Hudson River after collisions with geese incapacitated ... US Airways Flight 1549 floats in New York’s Hudson River after collisions with geese incapacitated ...
Video: ACTH/Cortisol (glycogenolysis, protein catabolism, lipolysis and gluconeogenesis)

For a complete list of videos, visit our video library