Public Goods and Common Resources. Introduction We consume many goods without paying: parks, national defense, clean air & water. When goods have no prices,
Copyright©2004 South-Western 11 Public Goods and Common Resource.
KRUGMAN'S MICROECONOMICS for AP* Introduction to Externalities Margaret Ray and David Anderson Econ: 74 Module.
Market Failure. When the market does not efficiently allocate resources Either too much or too little is produced Monopoly Externalities Public goods.
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XII. Monopoly pricing and limited needs. The basic idea: Take a Dixit-Stiglitz type model If utility is non homothetic, the markup depends on how much.
Lecture 2: Frictional unemployment II. Efficiency.
MARKET FAILURE (Part 2) ECONOMICS – A COURSE COMPANION Blink & Dorton, 2007. p135-146 MICROECONOMICS.
4 THE ECONOMICS OF THE PUBLIC SECTOR. Copyright©2004 South-Western 10 Externalities.
© 2007 Thomson South-Western. Pollution Think about air pollution from a factory.Think about air pollution from a factory. The firm does not have to pay.
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Strata Open Data its not Just for Govts_2.11.2014