1) Explain what is meant by a good being "excludable."? 2) Explain what is meant by...
1) Explain what is meant by a good being "excludable."?
2) Explain what is meant by a good being "rival in consumption."?
3) Define and give an example of a public good. Is it likely that the private market provide this good on its own? Explain.
4) Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why?
Homework Answers
1)A good is called excludable good if it is possible to prevent people from getting access to it if they have not paid for it. In other words, a person who has paid for gettimg access to the good will only be able to use it.
2) A good is “rival in consumption”, if the consumption of the good by a person reduces the amount that is available for use for the other person.
Add Answer to:
1) Explain what is meant by a good being "excludable."?
2) Explain what is meant by...
1)Define and give an example of a common resource. Without government intervention, will people use this...
1)Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why? 2) Define and give an example of a public good. Is it likely that the private market provide this good on its own? Explain.
1) Give an example of a public good that you consume. → Explain how it...
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 resource that you consume....
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...
A(n) is excludable and rival in consumption. artificially scarce good O private good O common resource...
A(n) is excludable and rival in consumption. artificially scarce good O private good O common resource O public good
a) Explain what is meant by the terms “non-excludable” and “non-rival”. b) Why does this result...
a) Explain what is meant by the terms “non-excludable” and “non-rival”. b) Why does this result in a public good being under-provided by the market? (detailed explanation) Your answer will be marked according to the following categories. PART A PART B Clarity of Exposition Grammar
23. Suppose the Environmental Protection Agency (LRT mental Protection Agency (EPA) wants to mandate that all...
23. Suppose the Environmental Protection Agency (LRT mental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate global warming in the United States. Which of the following describes why most economists would disagree with this policy a. The environment is not worth protecting b. Reducing methane emissions is desirable, but whatever level of pollution firms decide to emit privately is already efficient c. The opportunity cost of zero pollution is...
69. Which of the following is the best example of a public good? a. Music downloads...
69. Which of the following is the best example of a public good? a. Music downloads b. Designer clothes c. Natural forests d. National defense 70. A street light is a ________. a. common pool resource good b. club good c. private good d. public good 71. A congested street is ________ in consumption. a. non-excludable but rival b. non-excludable and non-rival c. excludable but non-rival d. excludable and rival 72. The free-rider problem exists for goods that are ________....
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable,...
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable, it is a A) natural monopoly. B) public good. C) private good. D) common resource. E) regulated good.
Unit 8 Market Failures: Externalities, public goods, natural resources The production of coffee pods results in...
Unit 8 Market Failures: Externalities, public goods, natural resources The production of coffee pods results in environmental damages when consumers throw the pods away. Currently consumers are not responsible for the costs of disposing of these coffee pods. The environmental damages caused by throwing away the coffee pods is an example of a: a Positive externality (6. Negative externality c. Private cost d. Private benefit Consider the market for coffee in the graph to the right. 1. Left unregulated, what...
QUESTION 10 Mosquito control is an example of a good that people get to enjoy without...
QUESTION 10 Mosquito control is an example of a good that people get to enjoy without paying for it: a nonrival good if used by one person cannot be used by another: a nonrival good O people get to enjoy without paying for it: a nonexcludable good Opeople must pay for to enjoy it: an excludable good QUESTION 11 Public roads get congested, suggesting that public roads are public goods rival O private goods O excludable QUESTION 12 To provide...
A(n) is excludable and rival in consumption. artificially scarce good O private good O common resource O public good
23. Suppose the Environmental Protection Agency (LRT mental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate global warming in the United States. Which of the following describes why most economists would disagree with this policy a. The environment is not worth protecting b. Reducing methane emissions is desirable, but whatever level of pollution firms decide to emit privately is already efficient c. The opportunity cost of zero pollution is...
IPLE CHOICE. Choose the one alternative that be 1) When a good is rival and excludable, it is a A) natural monopoly. B) public good. C) private good. D) common resource. E) regulated good.
Unit 8 Market Failures: Externalities, public goods, natural resources The production of coffee pods results in environmental damages when consumers throw the pods away. Currently consumers are not responsible for the costs of disposing of these coffee pods. The environmental damages caused by throwing away the coffee pods is an example of a: a Positive externality (6. Negative externality c. Private cost d. Private benefit Consider the market for coffee in the graph to the right. 1. Left unregulated, what...
QUESTION 10 Mosquito control is an example of a good that people get to enjoy without paying for it: a nonrival good if used by one person cannot be used by another: a nonrival good O people get to enjoy without paying for it: a nonexcludable good Opeople must pay for to enjoy it: an excludable good QUESTION 11 Public roads get congested, suggesting that public roads are public goods rival O private goods O excludable QUESTION 12 To provide...
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