Why do people refuse to pay for public goods?
What will be an ideal response?
People often refuse to pay for public goods because these goods are non-excludable and non-rival in consumption. A person can enjoy a public good without paying for it because nobody can be excluded from its consumption and consumption by one individual does not reduce the amount available for consumption by others.
Economics
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Indicate whether the statement is true or false
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A decrease in the price of a good will cause a movement along the demand schedule to a higher quantity demanded.
Answer the following statement true (T) or false (F)
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