What are public goods? What will be an ideal ...

[geoffrey]

What are public goods?
 
  What will be an ideal response?

Question 2

If the price of a good falls and expenditure on the good rises, the demand for the good is _______.
 
  A. elastic
  B. perfectly elastic
  C. inelastic
  D. unit elastic

[skipfourms123]

Answer to Question 1

Public goods are goods or services that bestow collective benefits on members of society. Generally no one can be excluded from enjoying their benefits.

Answer to Question 2

A The total revenue test on page 121 shows that demand is elastic.

[geoffrey]

Excellent

[amandalm]

Thanks for the timely response, appreciate it