Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971493
Author: N. Gregory Mankiw
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 1PA
Subpart (a):
To determine
Nature of goods and services.
Subpart (b):
To determine
Reason for providing non-public goods by government.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which of the following are public goods?
a. Air bags
b. Pencils
c. Cycle helmets
d. City streetlights
e. Contact lenses
For each of the goods in the list below identify which good falls in
each category:
1. Ice cream
6. Wifi
2. Hair cut
7. National defense
3. Fire truck
8. Fish in a river
4. Tornado siren
9. Cable TV
5. Congested non toll road
10. Toll road
Excludable
Non excludable
Rival
Pure Private
Non
Pure Public
Rival
What are the two essential characteristics of public goods? Choose the two characteristics that apply.
A. Individuals pay for public goods as they are used.
B. Some people receive greater opportunities to use public goods.
C. Public goods can be used by more and more people at no additional opportunity cost and without depriving others of any of the goods or services.
D. Collection systems are difficult to institute for public goods because of how people use them.
Chapter 11 Solutions
Principles of Microeconomics (MindTap Course List)
Knowledge Booster
Similar questions
- Question 25 The Triboro Bridge has a bike lane for crossing that cyclists can cross at any time at no charge. Cyclists love the bike lane because it is rarely crowded so getting across takes little time. Which of the following is most accurate? The Triboro Bridge's Bike Lane is like a private good because it is rarely used The Triboro Bridge's Bike Lane is a club good because anyone can use it at anytime The Triboro Bridge's Bike Lane is a common resource The Triboro Bridge's Bike Lane is a public goodarrow_forwardWhich of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History Museum D. None of the abovearrow_forwardWhich of the following goods would be considered a pure public good? Select one: O O O CO a. National defense b. Cable TV c. Toll road d. Sports stadiumarrow_forward
- Which of the following is the best example of a public good in a classroom? Select one: a. anything that is provided free by the government b. a copy of the textbook c. a student's notes d. the temperature in the room e. a pencilarrow_forward1. What kind of good is it? 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 Club Good Common Resource A new drone that you take turns flying with your friends A large, beautiful fountain in a town square A dock on a lake that is open to the publicarrow_forwardWhat are public and private goods?arrow_forward
- 1. Public goods have all of the following characteristics EXCEPT: a.one person's consumption does not affect another person's consumption. b.tax dollars are used for the provision of public goods. c.firms find public goods profitable to produce because people value them. d.a free-rider problem develops with public goods. e.those who do not pay cannot be excluded from consuming the good.arrow_forwardDetermine if the good is public good, private good, club good or common-pool resources. Please only tell me the ones that I got wrong and the reason why! 1. Albert Einstein's Theory of Relativity (as an idea) Public Good 2. Books in the public library Public Good 3. A local church, temple etc Public Good 4. Healthcare services provided by a physician Could be both public and private..? 5. The national missile defense system Public goodarrow_forward1. explain four main roles of the government in solving the insufficiency of the market 2. What is the difference between a private good and a public good?arrow_forward
- Choose and answer only for two questions 1. Explain in detail on four theories of consumer behavior 2. Describe in detail the main characteristics of public goodsarrow_forwardPublic goods:a. Please explain public goods. b. Please explain their characteristics. c. Please give 2 examples of public goods, including why those examples best fit your definition.arrow_forwardTranscribed image text: 1. Crime prevention is considered a public good. a) What are public goods and services? Explain why public goods and services are provided.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning