. What kind of good is it?Classify each of the following goods listed in the table below as a public good, a private good, a club good, or a common resource. Public GoodPrivate GoodClub GoodCommon ResourceA new drone that you take turns flying with your friends A large, beautiful greenspace in a town plaza A parking spot along a residential street that is open to the public

Types of Goods: Products devide into categories according to excludability (i.e., can some be…

Answered: What kind of good is it? Classify each…

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 2CQQ

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. What kind of good is it?

Classify each of the following goods listed in the table below as a public good, a private good, a club good, or a common resource.

	Public Good	Private Good	Club Good	Common Resource
A new drone that you take turns flying with your friends
A large, beautiful greenspace in a town plaza
A parking spot along a residential street that is open to the public

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