Are there other public functions that might benefit from more competition, including competition from private firms?
Yes, there are other public functions that might benefit from more competition, including competition from private firms. The best example of public function that can be cited in the given situation is education. The public school system is required to create the competitive environment to change the perspective of people towards it. It is always being less competitive. The public school system faces competition from other government institutions or private institutions. Thus to be competitive, it has focus on improving itself continuously. Without continuous improvements, there is possibility of losing market share by losing students to competitors.
Are there other public functions that might benefit from more competition, including competition from private firms?
Give 4 projects or infrastucture in the US (or other places) that would benefit from Public/Private Partnerships
Export-led growth tends to: -discourage competition in the global economy. -help firms benefit from diseconomies of large-scale production. -lead to unemployment among domestic workers. -exploit domestic comparative advantages. -lower the overall volume of imports.
Suppose public school teachers make more than equivalent private school teachers. What economic concept might explain their ability to do so? The public school teachers are able to influence public officials through rent seeking to pay them more than the "normal" wage (wage determined by supply and demand). The public school teachers cannot influence the monopoly of public schools. The economies of scale result in the public teachers earning more. The two part pricing results in the public school teachers...
Suppose the government is producing a public good. If the marginal benefit of the last unit of a public good produced is greater than the marginal cost of that unit, to achieve the efficient amount of production, what should be done? A. The government should produce more units. B. The government should cease production. C. Private firms should take over the production and sale of the good. D. Nothing because the government is already producing the efficient quantity of the...
Give an example of a measure that would benefit public health but might be controversial to implement.
Which of the following are examples of privatization of public sector functions? Select all that apply. a. Private leases of public roads b. Government funding of health insurance for children from low-income families Expansion of Medicaid under the Obama health care plan d. Medicare Part Denrollees required to purchase private prescription drug coverage
From your perspective which criticisms of the public sector are warranted? Are private companies more or less prone to criticism? Why or why not?
One of the areas addressed by the ISO 14000 series is environmental labeling. (PART A) How might individual firms benefit from using labeling standards? (PART B) How might international trade be affected?
a.) The additional benefit to society - including benefits to the consumer, but also counting benefits to others - of consuming one more unit of output is called: O marginal social benefit Omarginal social cost marginal private benefit O marginal private cost b.) The additional benefit to just the consumer of consuming one more unit of output is called: Omarginal social cost marginal private cost marginal social benefit marginal private benefit points a.) A positive externality is when: eBook References...
How can increasing the amount of competition (by encouraging more firms to enter an industry) aid innovation? How can increasing competition hinder innovation? Explain via a diagram.