🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
1
answer
0
watching
68
views

Match each good with the type of good it represents

A. Retirement programs 1. Public good
B. Infrastructure projects 2. Merit good
C. Stock investments 3. Individual good

 

Watch
1
answer
0
watching
68
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Yusra Anees
Yusra AneesLv10
19 Mar 2021

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

A demand curve for the public good is determined by: 
 
a) summing vertically the individual demand curves for the public good.
b)summing horizontally the individual demand curves for the public good.
c).combining the amounts of the public good that the individual members of society demand at each price
d) multiplying the per-unit cost of the public good by the quantity made available

Identifying and Providing Types of Goods

You will explain why some goods should be provided by the government and others should be provided by businesses. Given a list, correctly identify types of goods based on excludability and rivalness. Support

your answer.

TTask 1:

Consider the following list of goods. For each good, explain the following points.

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associated with this good?

Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be provided

by the private market or the government.

Answer for each event below.

A.

A cup of coffee at a coffee shop

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associa

ted with this good?

Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be

provided by the private market or the

government.

B.

City fire protection

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associated with this good?

Explain whether the private mark

et should provide this good or the government should provide

this good. Explain in terms of whether the characteristics of the good would make it difficult to be

provided by the private market or the government.

C.

Polar bears in the Arctic

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associated with this good?

Explain whether the private market should provide this good or the government shoul

d provide

this good. Explain in terms of whether the characteristics of the good would make it difficult to be

provided by the private market or the government.

D.

Clean air

Is the good rival?

Is the good excludable?

Identify the type of good (Private Good, Public Good, Common Resource, or Quasi Public Good)

Are there any externalities associated with this good?

Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be provided by the private market or the government.

Individuals A and B are the only consumers of good X. Individual A demand for good X is given by Q = 4 - P and individual B demand for good X is given by Q = 8 - 2P. The supply for good X is given by MC = 3. Assume good X is a (pure) public good. Let Lindahl price for individual A equal to individual A valuation (P) of quantity Q* and Lindahl price for individual B equal to individual B valuation (P) of quantity Q*. Individual A will be charged ________ and individual B will be charged __________ for the same equilibrium quantity Q* of the public good they both consume. (NOTE: Write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands. HINTS: Sketch the Marshallian cross€ diagram of supply and demand to help you answer this question. To find the Lindahl prices, substitute Q* in each individual demand and, for each, solve for P.) Show all steps.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in