A public good is defined to be non-exclusive and non-rival. A good is not be excluded...

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A public good is defined to be non-exclusive and non-rival. A good is not be excluded from consuming it. Also, a good is additional consumer has a marginal cost of zero. One of the problems related to the provision of publi goods is the existence of and still benefit from its existence. Due to their presence, markets fail and it is difficult to provid public goods through (46) if people ca (47) if the provision of the good to a: (48), ie. consumers who do not pay for a non-exclusive goo (49). 46. a) non-rival b) Giffen c) inferior d) non-exclusive 47. a) non-rival b) Giffen c) inferior d) non-exclusive 48. a) externalities b) free riders c) abatement d) mosquitos 49. a) govermment b) monopoly c) television d) market mechanisms A public good is defined to be non-exclusive and non-rival. A good is not be excluded from consuming it. Also, a good is additional consumer has a marginal cost of zero. One of the problems related to the provision of publi goods is the existence of and still benefit from its existence. Due to their presence, markets fail and it is difficult to provid public goods through (46) if people ca (47) if the provision of the good to a: (48), ie. consumers who do not pay for a non-exclusive goo (49). 46. a) non-rival b) Giffen c) inferior d) non-exclusive 47. a) non-rival b) Giffen c) inferior d) non-exclusive 48. a) externalities b) free riders c) abatement d) mosquitos 49. a) govermment b) monopoly c) television d) market mechanisms