Public goods are:
a. any goods or services several members of the public would like produced
b. those goods for which natural monopolies exist
c. goods which cannot be successfully produced by private firms.
d. goods which cannot be easily financed through the market system.
d
Economics
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According to your authors, the model of perfect competition
A) is an accurate description of real-world markets. B) obscures how plan coordination occurs in the real world. C) explains how economic profits can exist over time. D) explains economic losses better than economic profits.
Economics
Consumer surplus measures the benefit to buyers of participating in a market
a. True b. False Indicate whether the statement is true or false
Economics