EBK EXPLORING ECONOMICS
7th Edition
ISBN: 9780100544772
Author: Sexton
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 8, Problem 7P
To determine
The reason that TV broadcasts have characteristics of public good and the characteristics of cable services like HBO.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
What public policy approach would be most reasonable to protect consumers from harmful products? How might market and economic forces play a role in protecting consumers?
Are utilities a public good, by definition?
What is cost–benefit analysis of public goods?Why is it important? Why is it hard?
Knowledge Booster
Similar questions
- Differentiate between a public good and common resources.arrow_forwardWhat happens in the market for a good that pollutes the air when it is manufactured if government decides to tax consumers when the product is purchased? Will this reduce the amount of air pollution?arrow_forwardIs it in the public interest to tax cigarettes? Explain your position using some of the economic concepts or graphs.arrow_forward
- What are the two key characteristics of a public good? What is an example of a public good? What is the problem with leaving the provision of public goods up to the market system? What is the solution?arrow_forwardCan you think of a reason why making cars safer would create negative externalities?arrow_forwardWhat is an externality? How do they affect market efficiency? If an externality is present, where is the socially optimal point of production? Where will the market produce if there is no government intervention? How do we get from the private market equilibrium to the socially optimal one?arrow_forward
- Externality is a problem that create market failure. How the externalities can be internalized to improve market efficiency?arrow_forwardGive an example of a negative externality that you have witnessed or are personally aware of. Who is affected by this? What can be done to improve the situation?arrow_forwardDiscuss whether or not a beach is a public good.arrow_forward
- What would happen if the government subsidized consumption of this product because it has positive externalities in consumption?arrow_forwardThe National Hockey League decides to put a new franchise in Hamilton which is close to existing teams in Buffalo and Toronto. Which of the following best describes the impact of this decision? Select one: a. product-variety externality, which harms consumers b. business-stealing externality, which benefits consumers c. product-variety externality, which benefits consumers d. business-stealing externality, which harms consumersarrow_forwardWhat is the concept of a negative externality in economics? A. A benefit received by individuals who did not incur the cost B. A cost incurred by individuals who did not receive the benefit C. A situation where external parties receive equal benefits and costs D. A situation where the government intervenes in the marketarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, IncEconomics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub Co
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co