A lighthouse, or terrestrial television, are considered to be examples of public goods (or services) because: a)  They are most often provided through a publicly funded service. b)  The service is available to all, and use does not restrict the ability to other users to enjoy the service. c)  Users can free ride, enjoying the service without making any payment for it. d)  The service is considered to have value to the whole of society, and not just to its users

A global-positioning anti-theft device installed by one car owner can produce a positive spillover to other citizens in a community. Discuss the impact on the: (1)  Private benefit curve (2) Social benefit curve (3)  Private cost curve

How does the precautionary principle work? Describe how the precautionary principle would be applied to shape policy in relation to a particular environmental issue, such as global warming or deforestation.

Suppose there is a public park. The annual cost of maintenance is $200,000. Visiting the park is free, and it is visited 210,000 times every year. However, to fund better maintenance of the park, the government wants to make visitors pay $4.70 per visit. Implementing a security system (to prevent visitors from sneaking into the park) will cost $0.50 per visit and $260,000 in annual fixed expenditures. At the same time, maintenance costs are expected to rise by 23%, not including security costs. The number of visits to the park is expected to fall by 34%