ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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A Day in the Life:
The Johnson's are you average American family living in the average community in suburban Los Angeles.
The family consists of mom and dad, Martha and Howard
Two children, Sally and Bobby, & A dog, Franklin.
From "A Day in the Life," categorize each of the following examples (D-F) that best fits the description: Public Good, Common Resource, Private Good, or Club Good.
1.Martha, a graphic designer, works at home. Early in the morning, she shuffles Franklin to the (D) Central Park Dog Park, a public park, generally before anyone else arrives there.
2.At 6PM, the family heads of the (E) crowded San Gabriel Valley YMCA (a private facility) for activities and fitness.
3.At 7:30PM the family heads off to (F) dinner at the Lazy Dog Café. Since it is a Tuesday evening, the restaurant is almost empty.
1) (Example D)- State the one that best fits the description: Public Good, Common Resource, Private Good or Club Good
2) (Example E)- State the one that best fits the description: Public Good, Common Resource, Private Good or Club Good
3) (Example F)- State the one that best fits the description: Public Good, Common Resource, Private Good or Club Good
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