Bundle: Principles of Microeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
7th Edition
ISBN: 9781305135444
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 11, Problem 1PA
Subpart (a):
To determine
Nature of goods and services.
Subpart (b):
To determine
Reason for providing non-public goods by government.
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For each of the goods in the list below identify which good falls in
each category:
1. Ice cream
6. Wifi
2. Hair cut
7. National defense
3. Fire truck
8. Fish in a river
4. Tornado siren
9. Cable TV
5. Congested non toll road
10. Toll road
Excludable
Non excludable
Rival
Pure Private
Non
Pure Public
Rival
Which of the following are public goods?
a. Air bags
b. Pencils
c. Cycle helmets
d. City streetlights
e. Contact lenses
What are the two essential characteristics of public goods? Choose the two characteristics that apply.
A. Individuals pay for public goods as they are used.
B. Some people receive greater opportunities to use public goods.
C. Public goods can be used by more and more people at no additional opportunity cost and without depriving others of any of the goods or services.
D. Collection systems are difficult to institute for public goods because of how people use them.
Chapter 11 Solutions
Bundle: Principles of Microeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
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