Public goods represent ________ because by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably.

Question

Quizplus · Accepted Answer

Public goods are considered a market failure because their nonexcludable and nonrival characteristics prevent the private sector from supplying them profitably, leading to underproduction or no production without government intervention.

Public Goods Represent ________ Because by Their Very Nature They