Zihan asked in Social ScienceEconomics · 1 month ago

Explain the difference between public goods and private goods. ?

Consider why profit can made through the supply of one type of good, but not the other.

1 Answer

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  • Oiy
    Lv 4
    1 month ago

    The lighthouse services are a public good because it cannot be divided for an individual consumer. And there are rent-seekers to consume the good. On the contrary, a private good has a price for an individual consumer.

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