Pearson eText Economics -- Instant Access (Pearson+)
13th Edition
ISBN: 9780136879459
Author: Michael Parkin
Publisher: PEARSON+
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Question
Chapter 16, Problem 1SPA
To determine
Classify the good as excludable, non-excludable, rival, and non-rival.
Expert Solution & Answer
Explanation of Solution
- A Big Mac: It is a good whose consumption by one reduces its availability to others (rival) and from which a personcan be excluded as it can only be consumed by person, if only he or she pays for it. Thus, it is rival and excludable.
- Brooklyn Bridge: It is a good whose use by one reduces its availability to others especially when it is crowded (rival) and from which none is excluded as it can only be utilized by all irrespective ofthey paying or not (there is no toll for using the bridge). Thus, it is rival and non-excludable.
- A view of the statue of Liberty: It is a good that is non-rival and non-excludable because viewing of the statue by a person does not reduce other people’s view and none is prevented from viewing it.
- A hurricane warning system: It is a good that is non-rival and non-excludable because the warning learned by a person does not limit other people’s use of warning, and the warning is sound enough for everyone to understand.
Economics Concept Introduction
Non-excludable good: A good is non-excludable ifpeople who do notpay cannot be easily prevented from using the good.
Non-rival good: A good is non-rival if one person’suse of the good does not reduce the ability of other person to use the same good.
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Students have asked these similar questions
Topic: Externality - Pigou
i need part d,e,f
Match the following with: rival and excludable, rival and non-excludable, non-rival and excludable, non-rival and non-excludable.
1) Pizza
2) Congested roads
3) Club goods
4) Clean air on your university campus
5) Tornado warning siren in your town
6) Education at your university
riants/950243/take/17/
MULTIPLE CHOICE
Question 16
Jason lives near the county fairgrounds. Every year when the fair is
open, the traffic on his street is terrible, the lights and noise from the
fair keep him awake at night, and the odors from the animal barns
reach his property. What is Jason experiencing?
A
B
C
non-rivalrous externality.
exclusive externality
positive externality
D negative externality
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Chapter 16 Solutions
Pearson eText Economics -- Instant Access (Pearson+)
Ch. 16.1 - Prob. 1RQCh. 16.1 - Prob. 2RQCh. 16.1 - Prob. 3RQCh. 16.1 - Prob. 4RQCh. 16.2 - Prob. 1RQCh. 16.2 - Prob. 2RQCh. 16.2 - Prob. 3RQCh. 16.2 - Prob. 4RQCh. 16.3 - Prob. 1RQCh. 16.3 - Prob. 2RQ
Ch. 16.3 - Prob. 3RQCh. 16.3 - Prob. 4RQCh. 16.3 - Prob. 5RQCh. 16 - Prob. 1SPACh. 16 - Prob. 2SPACh. 16 - Prob. 3SPACh. 16 - Prob. 4SPACh. 16 - Prob. 5SPACh. 16 - Prob. 6SPACh. 16 - Prob. 7SPACh. 16 - Prob. 8SPACh. 16 - Prob. 9SPACh. 16 - The Economics of Healthcare (Study plan 16.3) Use...Ch. 16 - Prob. 11APACh. 16 - Prob. 12APACh. 16 - Prob. 13APACh. 16 - Prob. 14APACh. 16 - Prob. 15APACh. 16 - Prob. 16APACh. 16 - Prob. 17APACh. 16 - Prob. 18APACh. 16 - Prob. 19APACh. 16 - Prob. 20APACh. 16 - Prob. 21APACh. 16 - Prob. 22APACh. 16 - Prob. 23APACh. 16 - Prob. 24APA
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