What are the characteristics of a “public good”? Why is it difficult for a private company to provide a public good?

Answer the following questions. with the applicable in text citation and references.

 

 

5.   What are the characteristics of a “public good”? Why is it difficult for a private company to provide a public good?

 

 

3.  What is the economic impact of government price controls? Provide an example of price controls in the healthcare area.