(Answered) Problemanswer the following questions regarding public and

Economics

Problem:

Answer the following questions regarding public and private goods:

What is the difference between a public good and a private good? What are the principal characteristics of each?
What are the two characteristics of public goods? Why is there a free rider problem when it comes to public goods?
Do you consider your local police force a public good or a private good? Why?
How about your local cable TV service? Explain your answer.

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Macroeconomics, Economics

Category:- Macroeconomics
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