Question: Question 5 - This question has 2 parts (3+7=10 marks) a) Identify two public goods and explain why they are public goods. (3 marks) b)

Question 5 - This question has 2 parts (3+7=10 marks) a) Identify two public goods and explain why they are public goods. (3 marks) b) Why does a positive externality create a market failure and

how can this market failure be solved by the government? Fully explain

your answer. (7 marks) 1 Av B I GOQuestion 4 - This

Question 5 - This question has 2 parts (3+7=10 marks) a) Identify two public goods and explain why they are public goods. (3 marks) b) Why does a positive externality create a market failure and how can this market failure be solved by the government? Fully explain your answer. (7 marks) 1 Av B I GOQuestion 4 - This question has 1 part (10 marks) You work in the marketing department of a major telecommunications company. You discover that demand for phone calls during business hours is inelastic and demand for phone calls in the evening is elastic. How could your company use this information to increase its total revenue? Fully explain your answer. (10 marks) IAVBIEEEE'BE'SE

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