This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How do public goods differ from private goods? What will be an ideal ... (Read 130 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
How do public goods differ from private goods?
 
  What will be an ideal response?

Question 2

Which of the following is a determinant of supply?
 
  A) tastes and preferences of consumers
  B) technology
  C) consumer income
  D) number of consumers


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A private good is characterized by the principle of rival consumption, which means that one person's consumption of a good reduces the amount available for someone else. A public good is not characterized by the principle of rival consumption. Public goods can be used by more people at no additional cost. Further, once the good is produced, it is usually impossible, or at the very least difficult, to exclude anyone from consuming it.

Answer to Question 2

B


moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Video: Bulk flow - Factors that influence bulk flow

For a complete list of videos, visit our video library