Assignment 7.docx - Assignment 7 Jennifer Mosier Chapter 13...

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Assignment 7 Jennifer Mosier Chapter 13: 12. What can government do to encourage the development of technology? - They guarantee the innovator an exclusive right to new products. They also can help fund the research and the development that helps make the product. 13. What are the two key characteristics of public good? - The two key characteristics are non-excludable and non-rivalrous. 14. Name two public goods and explain why they are public goods? - Parks are a public good, they are open to the public and entertain children and sometimes adults. Another public good is the radio most people listen to it on their way to work or when they are in their room. 15. What is the fee-rider-program? - When people benefit from resources, goods, or services do not pay for them which results in an under-provision of those goods and services. Chapter14:
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