This topic contains a solution. Click here to go to the answer

Author Question: What are public goods? What will be an ideal response?[br][br][b][color=#165FFA]Question ... (Read 81 times)

geoffrey

  • Hero Member
  • *****
  • Posts: 880
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
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

  • Member
  • Posts: 880
Reply 2 on: Jun 29, 2018
Wow, this really help


emsimon14

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

For a complete list of videos, visit our video library