Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 16, Problem 2SPA
To determine
Classify the good as public good, private good, a natural
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Is the following good a private good, a public good, a common resource, or a club good? Explain why the good is rival or non-rival and excludable or non-excludable.
An oil pipeline
Determine whether each of the following goods is a private good, a public good, a common resource, or a club good.
Private Good
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A cabana along a beach that is open to the public
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Offer an example of a good that has become a public (or quasi-public) good due to technology.
Explain how technology has made this good non-rival in consumption or non-excludable.
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Chapter 16 Solutions
Macroeconomics
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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- What examples do you have of public goods? What is the free-rider problem?arrow_forwardFour roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: Dwayne Javier Salman Chris First film $ 7 $ 5 $3 $2 Second film 6 4 2 1 Third film 5 3 1 0 Fourth film 4 2 0 0 Within the dorm room, is the showing of a movie a public good? Why or why not? If it costs $8 to stream a movie, how many movies should the roommates stream to maximize totalsurplus?c. If they choose the optimal number from part (b) and then split the cost of streaming the movies equally, how much surplus does each person obtain from watching the movies?d. Is there any…arrow_forwardDefine the concepts of public good, non-excludable, non-rival, and tragedy of the commons.arrow_forward
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