Frequently, a public good can be adequately provided by private action when its benefits are
a. concentrated among a small number of people.
b. equally valued by everyone.
c. widespread.
d. greater than its costs.
a. concentrated among a small number of people.
You might also like to view...
Refer to Table 2-6. What is Lucy's opportunity cost of making a wagon?
A) 3/4 of a wagon B) 2 tricycles C) 1 1/3 tricycles D) 3 wagons
The use of trade barriers to enforce standards abroad raises all of the following concerns EXCEPT
A) the potential deadweight losses in consumption and production at home. B) the lack of agreement over specific content of standards. C) the potential for the use of trade barriers to erupt into a bigger trade war. D) the difficulty of knowing whether some of the concerns are over standards or veiled protectionism. E) only small countries may be able to use trade barriers effectively.