The private market will not provide enough of a pure public good because of
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4 marks, −1MicroeconomicsMarket failure, externalities and public goodsFree riding and preference revelationEasyabout 1 min
CUET-PG 2019 Question 48: Market failure, externalities and public goods
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Market failure, externalities and public goods has come up 114 times in 7 exams since 2006.
What this question tests
This question is on Free riding and preference revelation, part of Market failure, externalities and public goods in Microeconomics.
Why people understate their value for public goods, and mechanisms that elicit the truth.
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