A good that is excludable and Select one: O A O B. OC. OD. non-rival; a public good rival; a public good non-rival; a private good non-rival; an artificially scarce good O E. rival; a common resource OF. rival; an artificially scarce good in consumption is

A good that is excludable and Select one: O A O B. OC. OD. non-rival; a public good rival; a public good non-rival; a private good non-rival; an artificially scarce good O E. rival; a common resource OF. rival; an artificially scarce good in consumption is

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 1QR

See similar textbooks

Related questions

Q: In a number of countries, government contracts are awarded by means auctions in which the winner is…

A: A mathematical approach for exploring tactical interactions among rational decision-makers is known…

Q: Which of the following would cause a ceteris paribus increase in the price of petrol? a, A…

A: In an economy, the equilibrium price for oil and the equilibrium quantity will be decided at the…

Q: A rise in government spending on large infrastructure projects, such as a new high speed railway…

A: Government spending alludes to the aggregate sum of money that a government distributes and uses to…

Q: 9. Answer ALL parts of this question. Consider the standard trade model with two goods and two…

A: The Production Possibility Frontier (PPF), often referred to as the Production Possibility Curve, is…

Q: If a producer is producing at point z and wants to move to point X, then what is the trade-off? How…

A: The value of alternative opportunities foregone and sacrificed to acquire one unit of a commodity is…

Q: A sum of money invested at 12% interest, compounded quarterly, will triple in amount in…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: Assume a Nash-Cournot equilibrium. How much output does firm 1 produce? Assume a Nash-Cournot…

A: A market structure in which there are only two firms or sellers that produce and sell a homogeneous…

Q: A competitive firm’s short-run supply curve is its cost curve above its cost curve . a.…

A: Perfect competition refers to a market arrangement characterized by the presence of numerous firms,…

Q: What assumptions in the perfectly competitive market can be used to explain the three conditions…

A: In a perfectly competitive market, several assumptions are made to analyze the conditions for…

Q: Consider a situation where the central bank increases the money supply. equal, if nominal GDP…

A: The velocity of money describes the rate at which money circulates in an economy or a specific…

Q: If someone needed $21,000 to maintain a particular standard of living in 1984, how much would have…

A: Average Annual consumer price index.To Find:How much would have been needed to maintain the same…

Q: You are the manager of a monopolistically competitive firm, and your demand and cost functions are…

A: A monopolistic competitive firm maximises profit where marginal revenue is equal to marginal cost.

Q: ! Required information An electric switch manufacturing company is trying to decide between three…

A: The Annual Worth calculation method is usually used for comparing alternatives. This method is also…

Q: 8. Natural monopoly analysis The following graph gives the demand (D) curve for 5G LTE services in…

A: Monopoly is the single firm in the market producing unique with no competitive firms.

Q: In the used-car market in Sydney there are two types of cars: bad cars and good cars. Owners of the…

A: In this question we can find the minimum proportion of good cars in the market with the help of the…

Q: Critically discuss whether civic crowdfunding platforms based on voluntary contributions present a…

A: Civic crowdfunding alludes to a fundraising approach where individuals or groups contribute cash to…

Q: Explain how Consumer Choice Theory helps explain decisions concerning the consumption of two goods.…

A: Consumer Choice Theory- it is a theory that studies about preferences of consumers with a limited…

Q: The profit made by selling q1 units of product 1 and q2 units of product 2 is given by…

A: A linear function is a mathematical function that represents a straight line on a graph. It is a…

Q: Mutually beneficial trade is also called OA. self-sufficiency. OB. a zero- sum game. OC.…

A: Mutually beneficial trade is voluntary trade that occurs when two or more parties engage in a…

Q: policy tool that the central bank (e.g., the Federal Reserve) can use for one of the above…

A: One policy tool that the central bank, such as the Federal Reserve, can use to alleviate the…

Q: Which one is not a cost of inflation? A Uncertainty B Redistribution C) Menu costs D Trade surplus…

A: 31. A trade surplus occurs when a country's exports exceed its imports, resulting in a positive…

Q: by the New-Keynesian with partia e is binding. In your answer belo that give rise to the model and…

A: Evolution of central banking system.Despite the fact that central banks have existed since ancient…

Q: What is the term structure of interest rates and what can it tell you about the outlook for the…

A: The term structure of interest rates refers to the connection between interest rates and the time to…

Q: Karl has utility function U(X,Y)= XY. He faces the following prices and income: Px = 10; Py = 20; M…

A: The optimal bundle refers to the combination of goods or services that maximizes an individual's…

Q: 1.7 Why is the real-world deposit multiplier smaller than 1/RR, where RR is the required reserve…

A: Since you have asked multiple questions, we will solve only the first one. If you want otherwise,…

Q: The economy's output is produced using function Y = AK^0.2N^0.8. Suppose that K = 1000, N =100, and…

A: It is given that the output function is as follows:Here, Y denotes output, K denotes capital, N…

Q: The total fixed cost of firm A is:- 32Q² + 10Q - 44 Calculate the average cost function for the same…

A: The mathematical depiction of the average cost (AC) of production or operation per unit of output is…

Q: Explain what is meant by trade creation and how does it affect the welfare of a country

A: Trade creation means the economic phenomenon that happens when the establishment of a free trade…

Q: The opportunity cost of gathering firewood is then the calories of fish given up per log of firewood…

A: Opportunity cost is the benefit of the best alternative forgone while making a decision. It is the…

Q: Suppose a particular box of macaroni and cheese cost $0.26 in 1983. What was its price in 2005…

A: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by…

Q: Snack Year Price per Unit 2021 15 pesos 2022 20 pesos Select one: Quantity 40 GDP deflator is 118 in…

A: Accurate national income data enables governments to make informed judgments while implementing…

Q: each point along the demand curve shows

A: Demand curve represents different quantities of goods and services in demand at different level of…

Q: The total fixed cost of firm A is:- 32Q² + 10Q - 44 Calculate the average fixed cost function for…

A: According to the given question the total fixed cost is given to be as:-32Q² + 10Q - 44We need to…

Q: Someone at a party pulls out a $100 bill and announces that he is going to auction it off. There are…

A: To determine the number of pure-strategy Nash equilibria in this game, we need to analyze the…

Q: How would the Fed reach this inflation target? The Fed would sell securities in an open market…

A: Fed- Fed stands for Federal Reserve system. It is the central banking system of the Country U. Its…

Q: Pistachios Country (Pounds per hour of labor) Sequoia Denali 5 8 Chinos (Pairs per hour of labor) 20…

A: Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: Charlie has $16,000 to invest for a period of 5 years. The following three alternatives are…

A: The annual compounded value of a project or investment refers to its value in the future based on…

Q: Which of the following factors reduce a cartel's ability to cooperate? • All of the other factors…

A: A cartel is an organization or group of businesses or entities that meet up to manipulate and…

Q: A common example of monopolistic competition is the market for: a. gasoline for cars. b.…

A: A market structure characterized by a large number of firms competing against each other, offering…

Q: 1.Overview of Brac Banks corporate governance in Bangladesh (why are you preparing this report,…

A: NOTE:-Dear Bartleby Student,As a Bartleby expert, it is important to follow the guidelines provided…

Q: Company A orders three different winter boots from the same supplier. Demands for all three boots…

A: Unit Cost : The cost associated with purchasing a single unit of a product or item.Selling…

Q: the output gap for this economy is

A: An Output gap represents the difference between actual output and potential out of the economy.…

Q: three county judges agreed to purchase the software system. If the new system will be used for the…

A: Installed cost = $150,000Additional cost = $50,000 at year 10Annual software maintenance contract…

Q: Min. PxX+PyY s.to U*=104=XY (d, e, f from your school number) a-) Obtain Hicksian demand…

A: Utility Function : U = X*Y Budget Constraint : M = Px*X + Py*Y Where , Px = Price of good X &…

Q: A. If the price of Pappy Van Winkle Bourbon (trust me, it exists) retails for $150 per bottle and…

A: In economics, the market equilibrium is the state where the quantity demanded by buyers equals the…

Q: 4. Mara will need $10 000 when she goes to college 5 years from now. She has 2 options for saving…

A: In order to make a recommendation on which option should Mila choose out of the two options A and B,…

Q: Use the AD/AS model below to answer the following questions. In each case, assume the economy starts…

A: The AD-AS framework and Keynesian economic theory put forward complementary viewpoints on the field…

Q: Over the period 1960-2000, France grew ________ than the United States economy A) 2 % slower. B) 2%…

A: F's economy ranks as one of the biggest in the world, thanks to its varied structure of markets. The…

Q: Countries experiencing a relatively lower rise in prices will generally see an appreciation in the…

A: A branch of economics that focuses on the study of the economy as a whole and examines aggregate…

Q: In this market, the equilibrium price is Price (Dollars per box) 15 35 For each of the prices listed…

A: The market equilibrium is determined by the intersection of the demand and supply curves. It is the…

Question

F3.

A good that is excludable and
Select one:
O A
O B.
OC.
OD.
O E.
OF.
non-rival; a public good
rival; a public good
non-rival; a private good
non-rival; an artificially scarce good
rival; a common resource
rival; an artificially scarce good
in consumption is

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Identify the meaning of excludable and non-rival

VIEW

Step 2: Identify the correct option

VIEW

Step 3: Evaluate incorrect options

VIEW

Solution

VIEW

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Which of the following goods or services are nonexcludable? police protection streaming music from satellite transmission programs roads primary education cell phone service
A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
Radio stations, tornado sirens, light houses, and street lights are all public goods in that all are nonrivalrous and nonexclusionary. Therefore why does the government provide tornado sirens, street lights and light houses but not radio stations (other than PBS stations)?
Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in public. Label the equilibrium private market price and quantity as Pm and Qm. Add whatever is needed to the model to show the impact of the negative externality from second-hand smoking. (Hint: In this case it is the consumers, not the sellers, who are creating the negative externality.) Label the social optimal output and price as Fe and Qe. On the graph, shade in the deadweight loss at the market output.
Give an example of a positive externality and an example of a negative externality.
In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between K and L, can you say which one is better and why? In the choice between K. and N, can you say which one is better, and why? If you had to guess, which choice would you think is move likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?
Assume that the marginal private costs of a film producing fuel-efficient can; is greater than the marginal social costs. Assume that the marginal private benefits of a firm producing fuel efficient cars are the same as the marginal social benefits. Discuss one wags.r that the government cans ï¬‚y to increase production and sales of fuel efficient cars to the socially desirable amount. Hint: the government is flying to affect production through costs, net benefits.
As the extent of environmental protection expands, would you expect the marginal benefits of environmental protection to rise or fall? Why or why not?
Refer to Table 12.2. The externality created by the refrigerator production was 100. However, once we accounted for both the private and additional external costs, the market price increased by only 50. If the external costs were 100 why did the price only increase by 50 when we accounted for all costs?
Is zero pollution an optimal goal? Way or why not?
Identify the following situations as an example of a negative or a positive externality: You are a birder (bird watcher), and your neighbor has put up several birdhouses in the yard as well as planting trees and flowers that attract birds. Your neighbor paints his house a hideous color. Investments in private education raise your countrys standard of living. Trash dumped upstream flows downstream right past your home. Your roommate is a smoker, but you are a nonsmoker.
Are the following goods non-rival in consumption? slice of pizza laptop computer public radio ice cream cone