When the non exclusion aspect of a public good does not hold, but the nondiminishability component is present, how might the free rider problem be overcome and social efficiency achieved? Give examples from common social practice to illustrate your answer.
What will be an ideal response?
Clubs, co-ops, churches, neighborhood groups, and social organizations form and charge membership fees or have behavioral standards that require participation to cover the fixed cost of providing the welfare. The quasi-public goods that come from these organizations provide a good substitute for government provision from a general tax base. Most students are members of at least several such organizations on campus and beyond.
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A regulated monopoly is a monopoly which can charge any arbitrary price for its product
a. True b. False Indicate whether the statement is true or false
During the decade of the 1980s, the size of the national debt of the United States was cut in half
Indicate whether the statement is true or false
When disposable income is 3750, saving is
A. -1000.
B. 0.
C. 1000.
D. 2750.
With regard to colonial land settlement and the land beyond the Appalachians,
(a) secure land titles had to come from established authority; land typically could not be claimed simply by "squatting" on it. (b) throughout most of the colonial period, authority over the land beyond the Appalachians was not easy to establish because both the English and the French laid claim to most of the Mississippi watershed. (c) the original grants of land to colonial settlers from the crown had been "from sea to sea." (d) all of the above are true.