The market system does not produce public goods because
A. there is no need or demand for such goods.
B. public enterprises can produce such goods at lower cost than can private enterprises.
C. their production seriously distorts the distribution of income.
D. private firms cannot stop consumers who are unwilling to pay for such goods from benefiting from them.
Answer: D
Economics
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Refer to Table 1-3. Using marginal analysis, how many hours should Ivan extend his hours of operations?
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How can the difference between the current unemployment rate and the natural rate of unemployment help explain changes in inflation?
What will be an ideal response?
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