1. Why is it important for producers to be able to prevent nonpaying customers from receiving a good? 2. What are the distinguishing characteristics of “public goods”? Give two examples of a public...

1. Why is it important for producers to be able to prevent nonpaying customers from receiving a good?

2. What are the distinguishing characteristics of “public goods”? Give two examples of a public good. Why are public goods difficult for markets to allocate efficiently?

May 26, 2022