Explain the characteristics of local public goods and outline how the efficient quantity of local public goods is arrived at.

Q: What characteristic of public goods makes it very difficult for private firms to provide (or provide…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A strategy for consumer 1 in the private provision of public goods model is: A quantity of public…

A: Economics can be defined as the allocation of scarce resources in order to satisfy the consumer…

Q: Assume that the MC of producing steel does not include the cost of the damage to the environment as…

A: In the market, it is given that the marginal cost of producing steel does not include the damage it…

Q: Which of the following is an example of a pure public good? a. A hamburger sold in a restaurant on…

A: Pure public goods are those that are fully non-rivalrous and non-excludable in terms of consumption.…

Q: Name two public goods and explain why they are public goods

A: By definition public goods(G) are those which are non-excludable and non-rivalry. They are consumed…

Q: What are the two characteristics of public goods? Explain the signifificance of each for public…

A: ANS A public good typically has 2 main characteristics they are as follows: Non-Rivalry : A good is…

Q: Define and give an example of a public good.  Can the private market provide this good on its own?…

A: A public good is one that is neither excludable nor a rival in the consumption of the people. This…

Q: Consider the definition of open-access resources introduced this week, is a public park an…

A: In economics, open access resources are, for the most part, competitive, non-excludable goods. As a…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: (i) The positive spillover due to the use of the global-positioning anti-theft device installed by…

Q: Explain how the characteristics of a public good lend itself to having free-rider. (please solve…

A: Public goods are those goods that are non-excludable in nature and non-rival in consumption.

Q: Ellen and Jo have identical marginal private cost curves and demand curves and use the same amount…

A: Demand represents the volume of goods and services that the consumers are willing to buy at…

Q: Explain the term public goods with examples

A: Non-excludable: - it is a condition where a person cannot stop another person from using a good or…

Q: You are required to choose a public good in the market and explain how the chosen product fits into…

A: Goods are products that fulfill human desires and have value, such as a fulfilling commodity…

Q: Determine whether each of the following goods is a private good, a public good, a common resource,…

A: Private goods are excludable and rival while public goods are non excludable and non rival in…

Q: Explain with the aid of an example what public goods are. Explain why public goods can be under…

A: There are different types of goods in the market, one is a private good and the other is a public…

Q: Differentiate between a public good and common resources. Explain your answer with the clear and…

A: To answer the question , we need to know what is a public good and what is a common resource . The…

Q: Which of the following describes a defining characteristic of a public good? Select the correct…

A: Public good is non excludabe and non rivalry.

Q: Do you think it is possible to draw a clear distinction between private and public goods? Which of…

A: Yes , It is possible to draw a clear distinction between the public and private goods. The…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: We are going to use Marginal benefit- Marginal Cost analysis to answer this question.

Q: Determine whether each of the following goods is a private good, a public good, a common resource,…

A: Public goods are goods that are non-excludable and non-rivalrous. Private goods are goods which are…

Q: Explain why each is or is not a pure public good. Where applicable, note instances where the good is…

A: Public goods are those which are non-excludable and non-rival. It means the goods are common for all…

Q: What is the difference between public spending and public goods

A: The government also results in the expenditure which would result in the social and the…

Q: Question 1 A global-positioning anti-theft device installed by one car owner can produce a positive…

A: We will use concepts such as Marginal Social benefits, Marginal Social Costs, Marginal Private…

Q: Robert and Bruce have identical marginal private cost curves and demand curves and use the same…

A: 1) If the Robert and Bruce are not contribute to maintain the land. The marginal private cost of and…

Q: Explain the efficiency condition for Public Goods

A: A pure public good is provided by the government and the private firms for the welfare motive. The…

Q: Distinguish between Public Goods and Private Goods. Give examples.

A: Public goods are those goods which are provided by the government and are available for the welfare…

Q: Which of the following is a characteristic of a public good? a. It is excludable.   b. It is…

A: Public good : In the case of public goods , it is non-excludable and non-rival . It means the public…

Q: discuss in detail the nature of production, profit and costs within the public sector

A: The influence of government revenue, expenditure, and investment decisions is studied in public…

Q: Identify an external benefit that could be generated by the presence of a shopping mall for a local…

A: Positive Externalities: Positive externalities refer to the benefit enjoyed by the third person who…

Q: What are the definitions of local public goods, club goods and congestible goods?

A: Excludability is the degree to which consumption of a good or service is limited to paying…

Q: discuss in detail The nature of the public sector from the perspective of production, profit, costs.…

A: Introduction: The present notion of components of production is mostly drawn from a neoclassical…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: If a single car owner installed the anti-theft device, it will produce positive spillover to other…

Q: Question 1 A global-positioning anti-theft device installed by one car owner can produce a positive…

A: Positive externality refers to the situation where the third party who does not involve in the…

Q: Assume public authorities set an optimum emissions standards at 10 tonnes per month. The total cost…

A: The quantity of output that maximizes the sum of consumer and producer surpluses is referred to as…

Q: A large supermarket applied to build on land which was in an area of natural beauty. The local…

A: a)External cost is also known as externalities. It is the cost of the uncompensated environmental…

Q: Discuss the socially optimal quantity of a public good? Explain using a diagram.

A: PLEASE FIND THE ANSWER BELOW.

Q: What is an "open access resource"? Why do open access resources often exhibit what is known as the…

A: open access asset:-  Open access asset is a decent or administration over which no property…

Q: What are the essential characteristics of public goods? Why might it be difficult for private sector…

A: Pubic good is a good whose consumption by one do not reduce its availability to others and from…

Q: A global-positioning anti-theft device installed by one car owner can produce a positive spillover…

A: A spillover, in economics, refers to an event that is caused by a seemingly unrelated event. In…

Q: Discuss the pros and cons of various solutions for avoiding the problems associated with the…

A: Public goods are the goods that are non- excludable and non- rivalries. Public good are designed to…

Q: Describe any two policies we can use to address market failure due to commons or public goods.

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Discuss whether or not a beach is a public good

A: In economics, public goods can be understood as those goods which are characterized by…