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1.8 The market mechanism, market failure and government intervention in markets

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Question 50

A pure public good always has the characteristic that

it is impossible to exclude non-payers from benefiting from its provision.

it can only be produced by public sector organisations.

its social benefits are always equal to its private benefits.

it is provided to consumers at a price equal to its average cost.

1.8 The market mechanism, market failure and government intervention in markets Questions

  1. A Level
  2. /Economics
  3. /1.8 The market mechanism, market failure and government intervention in markets