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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
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.

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