Which of the following statements about merit goods is correct? Merit goods are allocated according to...
Which of the following statements about merit goods is correct?
Merit goods are allocated according to consumers' willingness-to-pay.
Merit goods should be provided by the private sector.
Goods with a positive externality on society are merit goods.
Emergency healthcare is a merit good.
Homework Answers
From the given,
The Option B is the correct answer because merit goods are ones who tend to create positive externalities in society and government can intervene if there is under consumption.
Because of here option A is incorrect because merit goods can be rejectable depending upon those who are unwilling to pay for good or service
also option C is incorrect since merit goods can be both provided by public and private sector
even option D is also incorrect becuase emergency healthcare if consumed by one reduces availability to others
Hence, So option B is the suitable answer for the given question
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