Select the type of market that is described by the following attributes: many firms, differentiated products, and free entry

Why is it that the private market fails to provide the efficient quantity of a public good?

a. because it is impossible to force those who benefit from the good to pay for it b. because public goods are always large-scale projects that require government financing c. because there are external costs associated with the provision of a public good d. because there are uninsurable risks associated with a public good

How can fighting inflation cause a recession?

A. The Federal Reserve raises interest rates to intentionally slow down the economy. B. Businesses lay off workers as a way to keep prices from rising too fast. C. Households stop buying goods and services in response to higher prices. D. The federal government orders businesses to reduce prices, which raises interest rates.