The market system does not produce public goods because
A) there is no need or demand for such goods.
B) private firms cannot stop consumers who are unwilling to pay for such goods from benefiting from them.
C) public enterprises can produce such goods at lower cost than can private enterprises.
D) their production seriously distorts the distribution of income.
Correct Answer:
Verified
Q3: When producers do not produce the efficient
Q4: At the optimal quantity of a public
Q5: Suppose that Mick and Cher are the
Q6: The two main characteristics of a public
Q7: Demand-side market failures occur when
A) demand curves
Q9: Unlike a private good, a public good
A)
Q10: A public good
A) can be profitably produced
Q11: Esteban, Mariko, and Greta are the only
Q12: Because of the free-rider problem,
A) the market
Q13: If many people in a community get
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