Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize...

Question

Question

Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize...

Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize them accordingly.

1. Shoes

2. Main Street in Bethlehem

3. Maine lobster

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

a) Shoes are rival and excludable they will be categorised as private goods.

b) main street of Bethlehem are non excludable but rival in nature, they will be considered as common resources. This place can be over crowded.

c) Maine lobster is non excludable but they are rival as they are limited in the sea. they will be considered as common resources.

Add a comment

Answer 2

Similar Homework Help Questions

Q. 2 Explain fully if the following goods/services are excludable (or not) and rival (or not)....

Q. 2 Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize them accordingly. 1. Shoes 2. Main Street in Bethlehem 3. Maine lobster
Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize...

Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize them accordingly. 1. Shoes 2. Maine lobster 3. Main Street in Washington
1.question Part I: Using a well labeled graph and words that explain your graph, show the...

1.question Part I: Using a well labeled graph and words that explain your graph, show the short run average variable cost curve and the marginal cost curve. a. Explain the shapes of the two cost curves. b. Where do the two cost curves intersect? Why? uk Part lI: The claims processing office of an insurance company is planning to double the square footage of its office space gradually over the next five years. Its cost accountants are forecasting that by...

Part I: Using a well labeled graph and words that explain your graph, show the short...

Part I: Using a well labeled graph and words that explain your graph, show the short run average variable cost curve and the marginal cost curve. a. Explain the shapes of the two cost curves. b. Where do the two cost curves intersect? Why? Part lI: The claims processing office of an insurance company is planning to double the square footage of its office space gradually over the next five years. Its cost accountants are forecasting that by doing so...
which of the following pairs of goods includes a good that is excludable and rival in...

which of the following pairs of goods includes a good that is excludable and rival in consumption as well as a good that is not excludable and not rival in consumption? "tablet computer, gym membership at a gym that always has plenty of open equipment and classes". "tablet computer, national defense". "congested nontoll road, national defense". "online music subscription, streetlight".
Indicate whether each of the following goods is excludable and/or rival in consumption • A car...

Indicate whether each of the following goods is excludable and/or rival in consumption • A car is • and is therefore a • Unpolluted air is • and is therefore a • Encrypted satellite TV broadcast is • and is therefore a Check

6. Which of the following is an example of market failure? a. Excludable and rival goods...

6. Which of the following is an example of market failure? a. Excludable and rival goods b. Low prices c. Excess supply d. None of the above. 7. Which of the following is a climate mitigation policy? a. Cap and trade system to reduce emissions b. Change infrastructure Standards c. Changes in zoning laws and new development policies d. All of the above. a. 8. Which paradigm places highest value on the present. Discounted Utilitarianism b. Rawlsian Intergenerational Equity Green...
7. For each of the following goods or bads, decide whether they are rival and whether they are excludable, and explain your answer. If you think the answer depends on factors not specified here, explain how.

7. For each of the following goods or bads, decide whether they are rival and whether they are excludable, and explain your answer. If you think the answer depends on factors not specified here, explain how.a. A free public lecture held at a university lecture theatreb. Noise produced by aircraft around an international airportc. A public park d. A forest used by local people to collect firewoode. Seats in a theatre to watch a musicalf. Bicycles available to the public...
For each of the following items, decide first if the good is rival or non-rival and...

For each of the following items, decide first if the good is rival or non-rival and then whether it is excludable or non-excludable. 1. Apples 2. Cable television 3. Farm-raised salmon 4. Yosemite National Park

Answer the following questions: 1) Give an example of a public good that you consume. ...

Answer the following questions: 1) Give an example of a public good that you consume. → Explain how it is neither excludable nor rival in consumption. 2) Give an example of a club good that you consume. → Explain how it is excludable but not rival in consumption. 3) Give an example of a private good that you consume. → Explain how it is both excludable and rival in consumption. 4) Give an example of a common...

Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize...

Homework Answers

Add Answer to:
Explain fully if the following goods/services are excludable (or not) and rival (or not). Then categorize...

Post as a guest

Earn Coins

Q. 2 Explain fully if the following goods/services are excludable (or not) and rival (or not)....