Unformatted text preview: duction, which is not reﬂected in market prices. An example is air and water pollution by a factory. 1.4 Public Goods For one ±rm’s new technology, others may copy it if there is no patent law; all ±rms are thus waiting for others to invent. Examination 2 Review Examination: Chapter 6, 7, 8, 9, and 16. (Review Lectures 10–20.) Cite as: Chia-Hui Chen, course materials for 14.01 Principles of Microeconomics, Fall 2007. MIT OpenCourseWare (http://ocw.mit.edu), Massachusetts Institute of Technology. Downloaded on [DD Month YYYY]....
View Full Document
- Spring '10
- Economics, Market failure, second-hand car market, Chia-Hui Chen