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1. Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why?
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- Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Explain.Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? why? List and define the different kinds of goods. Give an example of eachDefine and give an example of a common resource.Without government intervention, will people usethis good too much or too little? Why?
- 1. What is an example of a good that has become a public (or quasi-public) good due to technology? 2. Explain how technology has made this good non-rival in consumption or non-excludable. 3. Is there a free rider problem in the good you mentioned? How can the free rider problem be addressed in that example?(a) Define public goods and common resources and give an example of each. What is the free-rider problem? Why does the free-rider problem induce the government to provide public goods? (b) How should the government decide whether to provide a public good? Why do governments try to limit the use of common resources?7. The free rider problem refers to people whoa. will only consume a public good if it is free.b. for efficiency’s sake, should be allowed to consume public goods (such as mass transit) even if they do not pay.c. will not voluntarily pay for a public good even though they would benefit from its provision.d. are not willing to pay for a public good because they lack information about its potential benefits.
- What are the two characteristics of public goods? Explain the signifificance of each for public provision as opposed to private provision. What is the free-rider problem as it relates to public goods? Is U.S. border patrol a public good or a private good? Why? How about satellite TV? Explain.Just answer true or false 1. Mining has negative externalities 2. The social cost of putting up a dam is reduced if the government ensures that the communities adversely affected are relocated in another area with sustainable sources of livelihood 3. Fireworks display during Christmas sponsored by an agency has both positive and negative externalities. 4. When a public space has been enclosed for a concert and people can only get in by buying tickets, the public space is no longer a public good that is non-rival and non-exclusive.2a) Livestock and poultry farming are some of the largest contributors of ammonia emissions. Ammonia has been shown to interact with other pollutants to form ammonium salts that negatively impact air quality and adversely impact human breathing. As a result, economists might suggest that animal products have an associated _________ externality? 2b) Draw the private cost, private benefit, social cost, and social benefit curves in the market for the animal products. If any of the curves are the same, label the curve as both. 2c) Is there market failure if the market runs freely? If so, is the socially optimal quantity of animal products higher or lower than the market outcome? 2d) Provide a policy suggestion that would help to correct any market failures that arise due to this externality. Explain why this would be effective. Can someone please help me and explain this to me please? Thank you so much in advance!!!
- Public goods are often thought to be goods or services that are provided by the government, but that is confusing cause and effect. What are the characteristics of a public good? Hint: Who provides the public good is not one of the characteristics.11 When performing a benefit cost analysis of different options to provide clean water to a community, the option that should be chosen is the option that maximizes the benefit to cost ratio. True or False?
