Which of the following is not a potential drawback to public provision of public goods?
a. Public provision lacks clear signals about the value of the good being produced, possibly leading to under and over provision of the goods.
b. Many collective consumption goods might be overproduced private goods.
c. Public provision often implies taxation, which creates an excess burden that might overwhelm any efficiency gains.
d. Many collective consumption goods are really impure private goods and thus the efficient level of output is never reached.
d
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Suppose that a monopolistically competitive firm is in long-run equilibrium. The firm's demand curve is tangent to its average cost curve at Q = 25 . Average cost is minimized at Q = 35, where average cost is $50 . Which of the following is true?
a. This firm maximizes profit at an output level of 25 units. b. This firm maximizes profit at an output level of 35 units. c. This firm maximizes profit at an output level less than 25 units. d. This firm maximizes profit at an output level greater than 35 units. e. There is not enough information to find the firm's profit-maximizing level of output.
Human capital:
A. can become outdated or deteriorate. B. is always increasing. C. is better when acquired as an adult. D. All of these are true.
Using the table above, the number of people in the labor force is
A) 165 million. B) 175 million. C) 195 million. D) 185 million. E) 145 million.
An indifference curve will become ________ the origin the more that the consumer considers the two goods as complements
A) more bowed-in towards B) less bowed-in towards C) less bowed-out from D) more bowed-out from