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-(Exhibit: Correcting for Market Failure: a Public Good) a Private

Question 55

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-(Exhibit: Correcting for Market Failure: A Public Good) A private market produces R units of output of a public good. The efficient price would be _______ and the efficient output would be _______ , which suggests the implementation of a government _______ . A) lower; greater; tax B) P<sub>1</sub>; W; subsidy C) higher; greater; subsidy D) P<sub>2</sub>; Q; subsidy
-(Exhibit: Correcting for Market Failure: A Public Good) A private market produces R units of output of a public good. The efficient price would be _______ and the efficient output would be _______ , which suggests the implementation of a government _______ .


A) lower; greater; tax
B) P1; W; subsidy
C) higher; greater; subsidy
D) P2; Q; subsidy

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