What is the government's major problem involved in reaching the optimal level of provision for public goods?
What will be an ideal response?
To produce the optimal amount of each public good, the government must know everyone's preferences. Surveys about the willingness to pay may be biased if individuals have incentives to hide their true feelings.
Economics
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Traditionally, Wall Street investment banks had been organized as ________, but by 2000 they had converted to being ________
A) sole proprietorships; partnerships B) partnerships; sole proprietorships C) corporations; partnerships D) partnerships; publicly-traded companies
Economics
A price cut will increase the total revenue a firm receives if the demand for its product is: a. elastic
b. inelastic. c. unit elastic. d. unit inelastic.
Economics