Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 11, Problem 2MCQ
To determine
To choose:
The correct option stating the goods for which free rider problem arises.
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There would be a potential market failure if a good was
a.
nonexcludable, but not if it was both excludable and nonrival
b.
nonrival, but not if it was both rival and nonexcludable
c.
both nonrival and nonexcludable, but not if it was either rival or excludable
d.
either nonexcludable or nonrival
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
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Which one does not belong to the externalities contributed by oil?
a. Emissions that pollute the environment.
b. National security
c. Hydrocarbons that potentially contribute to climate
d. Mercury emission from burning oil to produce electricity.
pointe
If you can prevent someone from consuming a good, that good is called
A. nonexcludable.
B. rival.
C. a public good.
D. excludable.
E. nonrival.
Chapter 11 Solutions
Foundations of Economics (8th Edition)
Ch. 11 - Prob. 1SPPACh. 11 - Prob. 2SPPACh. 11 - Prob. 3SPPACh. 11 - Prob. 4SPPACh. 11 - Prob. 5SPPACh. 11 - Prob. 6SPPACh. 11 - Prob. 7SPPACh. 11 - Prob. 8SPPACh. 11 - Prob. 9SPPACh. 11 - Prob. 10SPPA
Ch. 11 - Prob. 1IAPACh. 11 - Prob. 2IAPACh. 11 - Prob. 3IAPACh. 11 - Prob. 4IAPACh. 11 - Prob. 5IAPACh. 11 - Prob. 6IAPACh. 11 - Prob. 7IAPACh. 11 - Prob. 8IAPACh. 11 - Prob. 9IAPACh. 11 - Prob. 1MCQCh. 11 - Prob. 2MCQCh. 11 - Prob. 3MCQCh. 11 - Prob. 4MCQCh. 11 - A renewable common resource is used sustainably if...Ch. 11 - Prob. 6MCQCh. 11 - Prob. 7MCQCh. 11 - When ITQs are assigned, the market price of an ITQ...
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- Which of the following goods or services are nonexcludable? police protection streaming music from satellite transmission programs roads primary education cell phone servicearrow_forwardWhich categories of goods are excludable?a. private goods and club goodsb. private goods and common resourcesc. public goods and club goodsd. public goods and common resourcesarrow_forward19. Public goods have the following characteristics Orivaled Oexcludable Onon-excludable Olow social value which causes the following issues for producers Ofree riding Ohigh regulatory burden Onegative externalities Oprivate benefitsarrow_forward
- A local drama company proposes a new neighbourhood theatre in Vancouver. Before approving thebuilding permit, the city planner completes a study of the theatre’s impact on the surroundingcommunity.a. One finding of the study is that theatres play very loud music, which adversely affects thecommunity. The city planner estimates that the cost to the community from the extra traffic is$7 per ticket. What kind of an externality is this? Why?b. Graph the market for theatre tickets, labelling the demand curve, the social-value curve, thesupply curve, the social-cost curve, the market equilibrium level of output, and the efficient levelof output. Also show the per-unit amount of the externality. c. On further review, the city planner uncovers a second externality. Rehearsals for the plays tendto run until late at night, with actors, stagehands, and other theatre members coming and goingat various hours. The planner has found that the increased foot traffic improves the safety of…arrow_forwardEconomics Which of the following goods is nonexcludable? O a can of Coke O a concert at Radio City Music Hall O national defense O an apartment buildingarrow_forwardWhich of the following is an example of an externality? (x) cigarette smoke that permeates an entire restaurant (y) a flu shot that prevents a student from transmitting the virus to her roommate (z) a beautiful flower garden outside of the local post office Select one or more: a. (x), (y) and (z) b. (x) and (y) only c. (x) and (z) only d. (y) and (z) only e. (y) onlyarrow_forward
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