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Explanation of Public Goods

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What is a public good? Why does the government tend to produce public goods?

© BrainMass Inc. brainmass.com October 15, 2018, 11:33 pm ad1c9bdddf - https://brainmass.com/economics/public-economics/explanation-of-public-goods-537714

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Public goods refer to products and/or services that anybody can consume as much as needed. Instances of public goods are government libraries, museums, national defense, environmentally designed surroundings, public swimming pools, GPS signals, roads and ...

Solution Summary

The solution defines briefly public good and the rationale why the government produces it.

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