BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

Solutions

Chapter
Section
BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Identify each of the following goods as a nonexcludable public good, an excludable public good, or a private good:

  1. a. A composition notebook used for writing
  2. b. A Shakespearean play performed in a summer theater
  3. c. An apple
  4. d. A telephone in service
  5. e. Sunshine

(a)

To determine

Identify notebook as an excludable public good, non-excludable public good, or a private good.

Explanation

A good that is characterized by its rivalry in consumption and excludable is known as a private good. Therefore, note book is a private good...

(b)

To determine

Identify Shakespearean play performed in a summer theater as an excludable public good, non-excludable public good, or a private good.

(c)

To determine

Identify an apple as an excludable public good, non-excludable public good, or a private good.

(d)

To determine

Identify telephone service as an excludable public good, non-excludable public good, or a private good.

(e)

To determine

Identify sunshine as an excludable public good, non-excludable public good, or a private good.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

PRESENT VALUE OF AN ANNUITY Find the present values of these ordinary annuities. Discounting occurs once 4 year...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

What are the three basic phases of the accounting process?

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

What is publicity, and why do organizations use it?

Foundations of Business (MindTap Course List)