Question: a. (True/False and Explain) The efficient quantity of public goods is determined when each individual's marginal willingness to pay (marginal benefit) is equal to the

a. (True/False and Explain) The efficient quantity of public goods is determined when each individual's marginal willingness to pay (marginal benefit) is equal to the marginal cost of providing the good.

b. Why does the free-riding problem in public good provision occur?

c. (True/False and Explain) Patents for medicine are always inefficient in the long run because they create (temporary) monopolies.

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