Question: For certain public projects such as flood control, what procedure can a government use to determine what quantity of a public good should be supplied?

For certain public projects such as flood control, what procedure can a government use to determine what quantity of a public good should be supplied?

a. It conducts public surveys to determine if consumers want the product.

b. It hires economists to estimate the market demand for the product.

c. It takes a vote in Congress.

d. It evaluates the costs and benefits of producing the good.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!