Answer to Question 1
Goods like clean air and street lighting are public goods. This means that individuals can consume these goods even without paying for them as they are non-rival and non-excludable. Such goods present particular problems for markets to provide because consumers have an incentive to act as free-riders; they can consume public goods even if they do not pay for them. Therefore, the problem with efficiently providing public goods is that consumers aren't willing to pay for them because no one can be excluded from consuming them once they are provided.
Answer to Question 2
Rule of reason is the criterion introduced by the Supreme Court in 1911 to determine whether a particular action was illegal (unreasonable) or legal (reasonable) under the terms of the Sherman Act.
The functional structure of the peripheral nervous system. (A) Afferent or sensory neurons carry sen
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
With a three-way catalytic converter, emission control is most efficient with an air–fuel ratio ...
A rubber mallet used to deliver a force to an object without harming the surface.
Dry hands and forearms thoroughly with clean paper towels to prevent chapping.
Hydroelectric power: 2013 Global Market