What are the two characteristics of public goods? Explain the significance of each for public provision as opposed to private provision. What is the free-rider problem as it relates to public goods? Is U.S. border patrol a public good or a private good? Why? How about satellite TV? Explain.
This solution of 308 words details the two characteristics of public goods and the significance of each. It also distinguishes between what is a public good and what is not.