Define the principle of rival consumption. A. idea that subsidies should be given to rival companies in order to encourage competition B. idea that individuals work together to attain private goods because a group can more easily attain private goods than an individual can C. idea that individuals are rivals in consuming private goods because one person’s consumption reduces the amount available for others to consume D. idea that only the strongest entities will be able to attain and consume private goods

Rival in Consumption? Yes No Yes A B. Excludable? No Emma's use of good x does not affect anyone else's use of good x. Neither Emma nor anyone else can be prevented from using the good. Good x is an example of the type of good that belongs in O Box C, which represents common resources. O Box A, which represents private goods. O Box D, which represents public goods. O Box B, which represents club goods/natural monopolies.

A new technology allows users to bypass Wi-Fi security and use any network they want. However, if too many people use the same Wi-Fi network, network speed will slow significantly. In this scenario: a. In this scenario, is Wi-Fi excludable? Explain. b. In this scenario, is Wi-Fi rival in consumption? Explain. c. Is Wi-Fi a public good? Explain.

#8. A party ends up spreading the coronavirus. Is that an externality? a. Yes, it is a negative externality b. Yes, it is a positive externality c. No, it is not an externality

There are two fishermen, Zach and Jacob. They would each benefit if lighthouses were built along the coast where they fish. The marginal cost of building a lighthouse is $100. The marginal benefit that Zach gets from each lighthouse is 90 - Q, where Q is the number of lighthouses. The marginal benefit that Jacob gets from each lighthouse is 40 - Q. 1. What is the efficient number of lighthouses? 2. What is Zach's marginal benefit of lighthouses at the efficient quantity? 3. Would Zach have been willing to pay for the last additional lighthouse at the efficient quantity? a) Yes b) No

2. Last year, nearly 200 countries agreed on a plan to limit greenhouse gas emissions, in an effort to limit climate change. One of the challenges in creating such a plan is that climate change is a global phenomenon, depending on total emissions from all countries. Which of the following best describes the benefits of a plan that reduces global warming? a. It's a common pool resource; countries will tend to contribute too much to global warming efforts b. It's a public good; countries will tend to contribute too much to global warming efforts C. It's a common pool resource; countries will tend to contribute too little to global warming efforts d. It's a public good; countries will tend to contribute too little to global warming efforts e. None of the above

1. The Flores article is critical of the direction that the charter school movement has taken in recent years.  One of the arguments against the "privatization of public education" is that education is a "public good." What is a public good? A public good is "nonexcludable," meaning that the benefits may be enjoyed by those who do not pay for it. A public good is a free good. A public good is a good that is funded by the government. A public good is a good that is consumed in public.

We recognize four types of goods, namely; private goods, public goods, club goods, and shared resources. Roads are an example of a public good. When the congestion gets worse, will the roads remain public goods or turn into club goods or common goods? Explain

Costs and Revenue MR MC D Quantity Based on the graph, you can answers. MR curve is defined as 20-2Q, MC curve is defined as 2Q, and Demand curve is definded as 20 - Q. What is the quantities that maximize a social benefit? Your answer should be 1 decimal points such as 2.1 or 3.1. Do not write ratio such as 10/3. Do not include $. Answer should be 200 instead of $200

Which of the following statements is consistent with Charles Tiebout’s concept of competition by individuals voting with their feet? Group of answer choices Individuals elect the politicians that promise to provide them with the desired level of public goods. Individuals move to the community that provides them with the desired level of public goods. Individuals are herd-like and prefer the same level of public goods as their neighbors. Individuals do not understand what public goods are offered in a town until they move there and try it out.