Homework Answers
False
Radio is a best example of public good .
public goods are those goods which are non executable and non rival in nature.
non Rival means having no competition with others.
non excludable means open for all without any discrimination.
Radio service reaches to every home , place, shops etc where it can be without any discrimination of people ,society, area etc .
So it is a public good
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Question 21 (1 point) Its false that radio is a prime example of a private market...
Question 23 (1 point) education is a prime example of a public good that provides a significant social rate of retu...
Question 23 (1 point) education is a prime example of a public good that provides a significant social rate of return to indivuals True O False Question 24 (1 point) can ghin a disproportionate impact on government resources because they recognize the value of organizing and paying for information that benefits their particular interests. Question 25 (5 points) Name at least two flaws in democracies Ooo - Paragraph BIU- earch ote Wap ]
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Question 2 (1 point) A positive externality results in the market quantity being less than the...
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Question 63 (1 point) Which of the following is an example of an external cost (or...
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True False Answer Bank Pollution is an example of an external cost. When the production of...
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QUESTION 10 Mosquito control is an example of a good that people get to enjoy without...
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Question 2 (1 point) Which of these is nonexcludable but rival? O a) a public good with exclusion Ob) a pure public good Oc) a pure private good d) a common property resource
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Question 63 (1 point) Which of the following is an example of an external cost (or negative externality)?! The fall in the price of wheat because good weather produced a large crop O A company moves a factory to China, closing its Canadian factory. The fall in the price of gasoline because oil prices are falling, making Canadian oil industry workers jobless. Taxes are increased to pay for increased government spending during the pandemic. The increased chance of getting the...
Question 13 (1 point) The net benefit to buyers from participating in a market can be measured by their total willingness-to-pay True False Question 14 (1 point) Suppose there are only two individuals in the market for a certain good. Individual A's inverse demand equation is P-8-0.5Qd and individual B's inverse demand equation is P 10-Qd. What is the aggregate demand equation for this market? Qd-14-1.5P Qd-12-2/3P Qd- 26-3P P-18-1.5Qd Question 15 (1 point) Technolopical Progress and the Marginal Cost...
Question 4 (1 point) Which statement describes a public good? a) It is rival in consumption and nonexcludable. b) It is nonrival in consumption and nonexcludable. c) It is nonrival in consumption and excludable. d) It is rival in consumption and excludable.
True False Answer Bank Pollution is an example of an external cost. When the production of a good results in pollution, private and social costs are the same. Private costs are costs that the firm is not obligated to disclose to the public Social cost is the sum of private and external costs. The terms "social cost" and "external cost" are synonyms. Wages are an example of an external cost When the production of a good results in pollution, private...
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