Microeconomics
2nd Edition
ISBN: 9780073375854
Author: B. Douglas Bernheim, Michael Whinston
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 1, Problem 1DQ
(a)
To determine
Goods that are provided centrally by the government.
(a)
Expert Solution
Explanation of Solution
Some of the examples of goods and services that are provided by the government for the public are police, fire services, and coast guard. These three public services are provided directly by the government and within its jurisdiction.
(b)
To determine
Goods that are provided by firms operating decentralized market.
(b)
Expert Solution
Explanation of Solution
Some of the examples of goods and services that are provided by firms that operate decentralized market are entertainment, clothing, and furniture.
(c)
To determine
Goods that are provided both centrally by the government and by firms operating in decentralized markets.
(c)
Expert Solution
Explanation of Solution
Some of the examples of goods and services that are provided by the government and by firms operating in decentralized markets are education and environmental protection.
(d)
To determine
Goods that are provided through some decentralized procedure other than markets.
(d)
Expert Solution
Explanation of Solution
The examples of goods and services that are provided through some decentralized procedure other than markets are free concert ticket but it may be offered on the basis of first come or first served.
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