1. Provide examples of private good, natural monopoly, and public good.

2. What are the major characteristics of public goods?

3. In a single-issue majority vote, does the median voter always gets his or her most preferred outcome? Briefly discuss.

4. How do the incentives and feedback gor government bureaus differ from those for profit making firms?

5. The motivation behind campaign finance reform was to limit the influence of special interests. In what sense could that legislation have the opposite effect? Briefly discuss.