What is a public good? How does it differ from a near-public good?
Answer to relevant QuestionsWhy do economists believe government failure is inevitable? Canadians are worried. Many of their bright and educated young people head south to the United States to find employment. Why would they do that? Suppose Zambian farmers begin to use more insecticides and chemical fertilizers. What impact would such uses, if successfully adopted, have on Zambian farm wage rates? Consider the following perfectly competitive labor market. How many laborers would be hired? At what wage rate? What acts are regarded as the most significant pieces of prolabor legislation?
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