The text says that both public goods and common resources involve social effects. a. Are the social

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The text says that both public goods and common resources involve social effects.

a. Are the social effects associated with public goods generally positive or negative? Use examples in your answer. Is the free market quantity of public goods generally greater or less than the efficient quantity?

b. Are the social effects associated with common resources generally positive or negative? Use examples in your answer. Is the free market use of common resources generally greater or less than the efficient use?

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Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

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