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Public goods are always provided by the government because private markets do not have an incentive to provide them.
69) If you can consume a good without having to pay for it, the good must be nonrival in consumption.
70) Fireworks on the night on July 4th are neither rival nor excludable.
71) The free-rider problem is larger for private goods than it is for public goods.
72) Alissa is studying for her principles of economics exam. She tells her study partner that "Only a very small number of people ever get to become astronauts and go into space. Therefore space exploration is not a public good." Do you agree? Explain.
Dec 07 2019 Read more Less More
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