Externalities And Public Good/Non-Profit Roles

This Homework Solution covers externalities, public goods, and nonprofit sector roles in the economy. Get your copy today!

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Externalities and Public Good/Non Profit RolesQuestion 3:Why does the government often need to step in for society to obtain an efficient level ofpublic goods?This is necessary for the government to often nedd to step in for society to provide public goodsbecause otherwise without any governmental intervention the individuals would not be able toprovide these goods. Individuals, or groups of individuals, could have an incentive according to thepublic goods that could be provide but the potential users of these good are not willing to pay forthem and everyone wants to enjoy them, and not only some individuals or some groups ofindividuals(ex : public benches, public playgrounds…)In order to reach an efficient level of publicgoods the government can find funds by raising the taxes : by using this way everyone can financiallycontribute for these public goods.Prompt :“Discuss nonprofits in the context of public goods and externalities. What is the economicjustification for the existence of nonprofit firms? Compare the models of nonprofits presented in thischapter and consider the efficiency of nonprofits. We have just learned that perfectly competitivemarkets are efficient. Would this imply that nonprofit enterprises are inefficient?”

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