A. a good produced by a natural monopoly
B. a private good
C. a public good
D. a common resource
Public Goods
Public Goods
A. government regulation
B. that prices are not low enough so firms over produce
C. that prices are not high enough, so people overconsume
D. that property rights have not been well established
A. Grant right of the clean air to citizens so that firms must purchase the right to pollute
B. Auctions off pollution permits.
C. Regulate the amount of pollutants that firms can put in the air
D. all of these answers
A. common resources are overconsumed
B. public goods are underproduced
C. private goods are under consumed
D. natural monopolies overproduce goods.
A. there are no benefits to the public since a public good is not excludable
B. the benefits are infinite because a public good is not rival and an infinite amount of people can consume it at the same time
C. one can never place a value on human life or the environment
D. respondents to naires have little incentive to tell the truth.
A. Rs 150 or more
B. Rs 500,000 or more
C. Rs50,000 or more
D. Rs500 or more
E. Rs100 or more
A. hot dogs at a picnic
B. Whales in the ocean
C. national defense
D. apples on a tree in a public park
A. it is efficient for the government to tax the resident €2,000 each and repair the road
B. It is efficient for each neighbour to pay €3,000 to repair the section of street in front of his/her home
C. None of these answers are true
D. it is not efficient to have the street repaired
A. not rival but excludable
B. both rival and excludable
C. rival but not excludable
D. neither rival nor excludable
A. rival but not excludable
B. not rival but excludable
C. both rival excludable
D. neither rival nor excludable
