EBK MICROECONOMICS
2nd Edition
ISBN: 8220103679701
Author: List
Publisher: YUZU
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Question
Chapter 9, Problem 8Q
To determine
Whether the following goods are private goods, common-pool resources, club goods or public goods:
(a) Health insurance
(b) Radio spectrum
(c) A video on YouTube
(d) A mosquito control program in a city
(e) A library’s collection of e-books
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Students have asked these similar questions
Determine whether each of the following goods is a private good, a public good, a common resource, or a club good.
Private Good
Public Good
Common Resource
Club Good
A cabana along a beach that is open to the public
A large, beautiful statue in a park
A new SUV that you use to drive your friends around town
Explain the difference between pure public goods and pure private goods.
Distinguish between Public Goods and Private Goods. Give examples.
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- Define public and private goodsarrow_forwardWhich goods are sold in the markets? private goods public goods private goods and club goods private good, club goods, and common- resource goods all types of goodsarrow_forwardRaven Farms raises a substantial number of bees and uses the honey to produce its own skin healing cream. Raven Farms is situated next to Oakcreek Apple Orchard. The bees from Raven Farms pollinate Oakcreek's apple trees. In this instance, Raven Farms a) derives more private benefits and provides less social benefit. b) provides more social benefits than it derives in private benefits. c) provides a complete social benefit and derives a marginal private benefit. d) provides a marginal social benefit and derives a complete private benefit.arrow_forward
- The example of bread and heat is usually given in a closed room in which a number of people live, to distinguish between purely public goods and purely private goods. Explain thisarrow_forwardJust answer true or false 1. Mining has negative externalities 2. The social cost of putting up a dam is reduced if the government ensures that the communities adversely affected are relocated in another area with sustainable sources of livelihood 3. Fireworks display during Christmas sponsored by an agency has both positive and negative externalities. 4. When a public space has been enclosed for a concert and people can only get in by buying tickets, the public space is no longer a public good that is non-rival and non-exclusive.arrow_forward
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