Asked by
Jackie Gonzalez
on Dec 11, 2024
Verified
Which of the following is true of public goods?
A) They can only be supplied by the government.
B) They will tend to be supplied efficiently by the private sector when markets are competitive.
C) It is difficult to establish a one-to-one link between payment and receipt of such goods.
D) From an efficiency standpoint, private markets will tend to supply an excessively large amount of public goods.
Public Goods
Goods or services that are available for all to consume, regardless of payment, such as public parks or national defense.
Economic Efficiency
A situation in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
- Understand why governments intervene in the supply of public goods.
Verified Answer
ED
Learning Objectives
- Understand why governments intervene in the supply of public goods.
Related questions
There Is Substantial Agreement Among Scholars That at Least Two ...
Which of the Following Is a Valid Reason for Government ...
Which of the Following Is a True Statement Regarding Why ...
Government Intervention Cannot Improve the Allocation of Resources for Goods ...
Which of the Following Statements Is Not True ...