Why are public goods different than private goods? Group of answer choices Public goods are rivalrous in consumption and excludable, whereas private goods are nonrivalrous in consumption and nonexcludable. Public goods are rivalrous in consumption and nonexcludable, whereas private goods are rivalrous in consumption and excludable. Public goods are nonrivalrous in consumption and nonexcludable, whereas private goods are rivalrous in consumption and excludable. Public goods are nonrivalrous in consumption and excludable, whereas private goods are rivalrous in consumption and excludable. Public goods are rivalrous in consumption and excludable, whereas private goods are nonrivalrous in consumption and excludable.

Give typing answer with explanation and conclusion

Public goods are:a) neither nonrival nor nonexcludable in consumption b) nonexcludable but rival in consumptionc) rival but nonexcludable in consumptiond) both nonrival and nonexcludable in consumption

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

What is the free-rider problem? Why does the free-rider problem induce the government to provide public goods? How should the government decide whether to provide a public good?

History offers many examples of small groups of farmers collectively managing shared irrigation systems, yet there are also many examples of inefficient depletion of large-scale groundwater aquifers due to agricultural irrigation. Use the concepts of common property and open access to briefly  describe a potential explanation for these two very different phenomena.

Which 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 goods

National defense is a good that is nonexcludable and nonrival in consumption. Suppose that instead of national defense being paid for with tax dollars national defense is paid for by voluntary contributions from (potentially) all individuals within Latvia Bob, who is a Latvian citizen, must decide whether he wants to contribute to the national-defense budget. Further, suppose that there are a total of 10 citizens, including Bob. For the optimal amount of safety, each citizen should pay $10. Every $ contributed (by anyone) to the national defense leads to increased security, which each person values at $0.40. This means that every dollar spent on defense is worth $4.00 to Latvia as a whole How much does Bob personally value the increase in national defense when he contributes $10 to the defense fund? Bob's personal value: $ If contributions are voluntary, and assuming people rationally maximize their utility, what is the total contributed to national defense? total contributed…

Economists argue that if you are trying to maximize net social benefits, you generally should NOT keep doing more of something (like reducing pollution) until the total cost of abatement exceeds the total damages of the pollution (i.e., the total benefits of abatement). You should stop sooner.  Why?