Distinguish between private and public goods, and explain why government allocation of public goods is necessary.
-What are the two main attributes that distinguish public goods from private goods? What conditions must hold for optimal allocation of public goods?
Correct Answer:
Verified
Q10: Whats defention of terms:
-allocative efficiency
Q11: Whats defention of terms:
-Coase theorem
Q12: Whats defention of terms:
-free rider
Q13: Whats defention of terms:
-transactions costs
Q14: Define and describe different types of market
Q16: Distinguish between private and public goods, and
Q17: Distinguish between private and public goods, and
Q18: Explain how government policies are used to
Q19: Explain how government policies are used to
Q20: Understand the principles of taxation.
-Define the benefits-received
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