Note: Please hand write your answers on a sheet of paper and…
Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY! Please remember to answer the questions below based on the information in the textbook and module resources. 1. What is the difference between a private and public good? 2. Why are public goods such as lighthouses typically not produced by large companies? 3. If a new good is needed by society, how would you determine if the public or private market should produce it? 4. How do externalities impact the market? Note: Please hand write your answers on a sheet of paper and upload them to canvas. You may scan them or take a picture. Please make sure your writing is legible/readable and your images are clear. Alternatively, you may also type your answers however many of the questions require you to use illustrations to make your points. JPG OR PDF FILE FORMAT ONLY!