What characteristic of public goods makes it very difficult for private firms to provide (or provide the correct amount of) the public good?   What "problem" does this characteristic lead to that generally results in the need for the government to provide the public good? Explain this "problem."

There are three individuals in society, named A, B and C. The individuals' inverse demand curves for a public good are PA = 20 - 3Q, PB = 35 - 5Q and PC = 45 - Q, and the social marginal cost curve for the public good is given by SMC = Q. What is the optimal amount of the public good? a) 1 b) 9 c) answer 10 d) 100 , show me the method.

On the basis of the three Individual demand schedules below, and assuming these three people are the only ones in the society, determine (a) the market demand schedule on the assumption that the good is a private good and (b) the collective demand schedule on the assumption that the good is a public good Instructions: Enter your answers as whole numbers (in the gray-shaded cells). Individual #1 Individual #2 Individual #3 (a) Private Demand (b) Public Demand Od Qd Price Qd Price Qd Price Price Qd Price $8 $8 $8 $8 1 1 7 2 7 2 7 2 7 2 6 3 6 3 6 3 6 3 4 4 4 4 5 5 5 4 5 5 4 5 4 5 4 3 6 6 6 3 6 2 7 2 7 2 7 2 7 1 8 1 8 1 8 1 8

On the basis of the three individual demand schedules below, and assuming these three people are the only ones in the society, determine (a) the market demand schedule on the assumption that the good is a private good, and (b) the collective demand schedule on the assumption that the good is a public good. Instructions: Enter only whole numbers in the table below. Demand Curve Private Individual #1 Individual1 #2 Individual #3 Good Demand Curve - Public Good Amount Society is Willing to Рay 2$ Price ed Price Qd Price ed Price $8 1 $8 $8 1 $8 1 7 2 2 7 2 3 3 6 3 5 4. 5 4 4 2 4. 5 4. 3 6. 3 2. 7 2. 4 8 1. 1 8 1 8

What would be the solution?

question attached!

Public goods have features that distinguish them from private goods. Select and drag the correct answers into the sentences below in order to complete the passage. You may use each answer once only and some answers will not be needed. Some public goods are more correctly described as because they are not strictly This means that by one economic agent or country reduces the benefit or availability of the good to others. consumption commons supply non-excludable externalities non-rival

Define a public good. Give an example of a public good using your definition. Explain how to construct the market demand curve for a public good.

With the provision of a public good: A) Everyone who uses the good benefits from it in proportion to their contribution to the level of provision. B) Everyone benefits from the total provision of the good, irrespective of their own level of contribution to its provision. C) The best way of providing the good is through the work of a public agency. D) Everyone who wants to use the good has to purchase a permit to allow them to do so.