Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 4.3, Problem 1YTE
To determine
To explain whether education is a public good.
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Students have asked these similar questions
Is education a public good? Does education have external benefits? If so, what are some of those public benefits? In your opinion are the external benefits large or small? Why?
What should government do to promote the efficient provision of products that have external benefits? If you think that government should put more resources into education, what might be some of the opportunity costs of that decision? How would an economist determine the right amount of government support for education?
How do government failures provide rationale and justification for public policy?
Which of the following is the best example of a public good in a classroom?
Select one:
a. anything that is provided free by the government
b. a copy of the textbook
c. a student's notes
d. the temperature in the room
e. a pencil
Chapter 4 Solutions
Micro Economics For Today
Ch. 4.2 - Prob. 1YTECh. 4.2 - Prob. 2YTECh. 4.2 - Prob. 3YTECh. 4.2 - Prob. 4YTECh. 4.3 - Prob. 1YTECh. 4.3 - Prob. 2YTECh. 4 - Prob. 1SQPCh. 4 - Prob. 2SQPCh. 4 - Prob. 3SQPCh. 4 - Prob. 4SQP
Ch. 4 - Prob. 5SQPCh. 4 - Prob. 6SQPCh. 4 - Prob. 7SQPCh. 4 - Prob. 8SQPCh. 4 - Prob. 9SQPCh. 4 - Prob. 10SQPCh. 4 - Prob. 1SQCh. 4 - Prob. 2SQCh. 4 - Prob. 3SQCh. 4 - Prob. 4SQCh. 4 - Prob. 5SQCh. 4 - Prob. 6SQCh. 4 - Prob. 7SQCh. 4 - Prob. 8SQCh. 4 - Prob. 9SQCh. 4 - Prob. 10SQCh. 4 - Prob. 11SQCh. 4 - Prob. 12SQCh. 4 - Prob. 13SQCh. 4 - Prob. 14SQCh. 4 - Prob. 15SQCh. 4 - Prob. 16SQCh. 4 - Prob. 17SQCh. 4 - Prob. 18SQCh. 4 - Prob. 19SQCh. 4 - Prob. 20SQ
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Similar questions
- Define public good?arrow_forwardHow does education, as an area of government spending, both positively and negatively impact a business?arrow_forwardMr. Saeed Ahmed loves watching sports channel on his local public TV station, but he never sends any money to support the station during its fund-raising drives. What name do economists have for people like Mr. Saeed Ahmed? b. How can the government solve the problem caused by people like Mr. Saeed Ahmed? c. Can you think of ways the private market can solve this problem? How does the existence of cable TV alter the situation?arrow_forward
- Public good is a good or service that can be consumed simultaneously by everyone and from which no individuals can be excluded. So, is health care a public good?arrow_forwardAs it relates to a public good, nonrivalry means that: the public sector is able to provide the good profitably. there is no need or demand for the good. either the public sector or the public sector can produce the good, but not both. one person's benefit from the good does not reduce the benefit available to others.arrow_forwarda)Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what these advocates mean by classifying charity as a public good. b)Why do governments tend to run programs that help the poor? Can the private sector be left to run those programs? Discuss your answer by focusing on externalities and market failurearrow_forward
- 1. Describe an incentive your parents offered to you in an effort to influence your behavior. 2. Give an ideal example of a positive (consumption) externality which leads to a market failure. 3.Differentiate equality from equity. 4. Which one is better? Equality or Equity? Give an example in which the government has done such a thing.arrow_forwardExplain why economists might say that the market for higher education demonstrates externalities and market failure.arrow_forwardHow do public television stations, like PBS, try to overcome the free rider problem? Define the problem, and then discuss the solutions. [Be sure to explain, what you mean by public good, and what is the free rider problem. Then use the explanation to apply to the public television situations]arrow_forward
- Offer an example of a good that has become a public (or quasi-public) good due to technology. Explain how technology has made this good non-rival in consumption or non-excludable. Is there a free rider problem with the good you mentioned? How can the free rider problem be addressed in this example?arrow_forwardEducation is frequently cited as a source of external benefits. How?arrow_forward
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