Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 11 - Part IV - Public Goods and Common Resources - Problems and Applications: 2

Answer

*Positive *ex. national defense, knowledge *free market quantity is 0, less than efficient market.

Work Step by Step

*benefit of good received by one person does not reduce benefit of the next person.
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