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Overview: The usual view in a mixed economy is that some goods and services are produced privately and some, such as transportation, are produced publicly. Private institutions, such as households and entrepreneurs, produce and con- sume goods and services in pursuing their parochial interests, while the pub- lic sector attempts to broaden public interests. More precisely, the public sector constructs new transportation systems, improves their capaci ties, and regulates services and prices; and the private sector chooses locations of pro- duction, modes of transportation, and routes of shipmel
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