oard.sanjacedu/webapps/assessment/tak What are two characteristics all public go

Question

oard.sanjacedu/webapps/assessment/tak What are two characteristics all public goods have in common? o rivalry and excludablity e nonrivalry and excludability O rivary and nonexcludability nonrivalry and nonexcludability QUESTION 2 Why would private companies NOT want to produce public goods? O it is illegal O taxes are too high e the free rider problem they produce externalities QUESTION 3 Why does the market fail with products that have positive extemalities? o some of the benefits spillover to a third party o nobody warts to buy these products nobody wants to sell hese products thegovernment takes over their production QUESTION 4 Which of the following is an example of product with a positive externality in consumption? cigarettes o education loud music Click Save and Submit to save and submit. Click Save All Answers to save all arvers

Explanation / Answer

a) Public goods are non-rival and anyone can't be excluded from them. the answer is "D".

b) "C"

Public goods have a free rider problem i.e. people using the good and not paying for it is called the free rider problem.

c) "D"

The government takes over the production of those goods as the private industry doesn't produce a sufficient amount of those goods.

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