4. John Stuart Mill and Paul Samuelson considered the lighthouse to be the quint

Question

4. John Stuart Mill and Paul Samuelson considered the lighthouse to be the quintessential example of a public good because _____.

a. it can be shown that the costs of building lighthouses far exceeds the costs of the lost cargo that would result if no lighthouses were built
b. a private business would be unprofitable because it could not charge for the service

c. history shows that lighthouses have always been provided by government

d. surveys show that almost everyone in both parties is in favor of building lighthouses

Explanation / Answer

Ans 4 The correct option is a i.e. because it can shown that the costs of building lighthouses far exceeds the costs of the lost cargo that would result if no lighthouses were built.

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