ECN 361 Week 4 Discussions: DQ 1, DQ 2
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ECN 361 Week 4 Discussion Question 1, Participation, Responses
The creation of knowledge is a public good. Because knowledge is a public good, profit-seeking firms tend to free-ride on the knowledge … by others and, as a result, devote too few resources to the creation of knowledge. How does the U.S. government correct for this apparent market failure?
ECN-361 Week 4 Discussion Question 2, Participation, Responses
The Coase theorem suggests that efficient solutions to externalities can … through bargaining. Under what circumstances will private bargaining fail to produce a solution? Explain your answer.
