Public and private goods - tutor2u
Public Goods -- Examples. Broadcast radio and TV programs. National defense. Public highways. Reductions in air pollution. National parks. Reservation Prices . A consumer’s reservation price for a unit of a good is his maximum willingness-to-pay for it. Consumer’s wealth is . Utility of not having the good is . Utility of paying p for the good is . Reservation price r is defined by ... ................
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