What are merit goods and why are they considered underprovided by the market?
Evaluating the Microeconomic Concept of Merit Goods

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Business, Social Studies
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11th Grade - University
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Hard
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7 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the difference between marginal private benefit and marginal social benefit in the context of merit goods.
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3.
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3 mins • 1 pt
What is a positive consumption externality and how does it relate to merit goods?
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4.
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3 mins • 1 pt
Discuss the factors that can affect the size of market failure in the context of merit goods.
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
How does imperfect information among consumers contribute to market failure for merit goods?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
Why is it important to evaluate the size of market failure in merit goods?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
What are the potential consequences of government intervention in correcting market failure for merit goods?
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