Economics (MindTap Course List)
Solutions
Economics (MindTap Course List)
Identify each of the following goods as a nonexcludable public good, an excludable public good, or a private good:
- a. A composition notebook used for writing
- b. A Shakespearean play performed in a summer theater
- c. An apple
- d. A telephone in service
- e. Sunshine
(a)
Identify notebook as an excludable public good, non-excludable public good, or a private good.
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)
Identify Shakespearean play performed in a summer theater as an excludable public good, non-excludable public good, or a private good.
(c)
Identify an apple as an excludable public good, non-excludable public good, or a private good.
(d)
Identify telephone service as an excludable public good, non-excludable public good, or a private good.
(e)
Identify sunshine as an excludable public good, non-excludable public good, or a private good.
Chapter 30 Solutions
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