Microeconomics (13th Edition)
13th Edition
ISBN: 9780134744476
Author: Michael Parkin
Publisher: PEARSON
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Question
Chapter 16.1, Problem 4RQ
To determine
Classify public good.
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How are public goods different from private goods?
The south African government develops targets that pertain to healthcare and education. Which of the following statements explains why government provides these two goods?
A. The benefit to society of healthcare and education is extremely low.
B. The benefits that society receives from health care and education exceed those that accrue to an individual user.
C . The government spends money on health care and education because they are public goods
D. Health care and education only produce negative externalities.
Define public good?
Chapter 16 Solutions
Microeconomics (13th Edition)
Ch. 16.1 - Prob. 1RQCh. 16.1 - Prob. 2RQCh. 16.1 - Prob. 3RQCh. 16.1 - Prob. 4RQCh. 16.2 - Prob. 1RQCh. 16.2 - Prob. 2RQCh. 16.2 - Prob. 3RQCh. 16.2 - Prob. 4RQCh. 16.3 - Prob. 1RQCh. 16.3 - Prob. 2RQ
Ch. 16.3 - Prob. 3RQCh. 16.3 - Prob. 4RQCh. 16.3 - Prob. 5RQCh. 16 - Prob. 1SPACh. 16 - Prob. 2SPACh. 16 - Prob. 3SPACh. 16 - Prob. 4SPACh. 16 - Prob. 5SPACh. 16 - Prob. 6SPACh. 16 - Prob. 7SPACh. 16 - Prob. 8SPACh. 16 - Prob. 9SPACh. 16 - Prob. 10SPACh. 16 - Prob. 11APACh. 16 - Prob. 12APACh. 16 - Prob. 13APACh. 16 - Prob. 14APACh. 16 - Prob. 15APACh. 16 - Prob. 16APACh. 16 - Prob. 17APACh. 16 - Prob. 18APACh. 16 - Prob. 19APACh. 16 - Prob. 20APACh. 16 - Prob. 21APACh. 16 - Prob. 22APACh. 16 - Prob. 23APACh. 16 - Prob. 24APA
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- why does the government provide tornado sirens, street lights, and lighthouses but not radio stations (other than PBS stations)?arrow_forwardWhich of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History Museum D. None of the abovearrow_forwardWhat is the difference between the PRIVATE COST and the SOCIAL COST of education?arrow_forward
- What are market failures? Discuss examples of market failures. What can government do to improve the results of market failures?arrow_forwardWhat is market failure, and what kinds of things can lead to market failure? What is government failure? Can government failure lead to market failure?arrow_forwardHow can government prevent market failure?arrow_forward
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