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.
At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
Efficient Allocation of Labor between Sectors
The ability to solve problems may be highly efficient in the older adult
Markets and Institutions Market Story Problem
Iraqi market