Homework Answers
Due to presence of HOMEWORKLIB POLICY, I am answering 4 questions.
11. rival.
Explanation: More use by people reduces space for others.
12. tax the public.
Explanation: Since it is a public good, voluntary contributions are not possible due to free riding. With same reason, private markets also can't exist.
30. ability to pay principle.
Explanation: Taxing according to how well individual can face burden is taxing on the basis of ability to pay it.
50. marginal revenue rising and marginal cost stays same.
Explanation: Rising MR with same MC implies rising marginal profit. Hence, more production should be done.
If you are satisfied with the answer, please provide a positive rating. Feel free to comment in case of queries.
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