Classify each of the items in the list as a private good, a public good, a common

Question:

Classify each of the items in the list as a private good, a public good, a common resource, or a natural monopoly good. Explain each classification. Use the following list of items to work Problems 1 and 2.

• New Year’s Eve celebrations in Times Square, New York

• A city’s sewer system

• New York subway system

• A skateboard

• Cable TV

• Niagara Falls

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Foundations Of Microeconomics

ISBN: 9780132830881

6th Edition

Authors: Robin Bade, Michael Parkin

See More Books

Question Posted: Feb 27, 2024 01:00 AM

See More Questions

Classify each of the items in the list as a private good, a public good, a common resource, or a club good. Explain each classification. New Years Eve celebrations in Times Square, New York A citys...
Classify each of the following goods as a private good, a public good, or a mixed good and say whether it creates an external benefit, external cost, or neither. Chewing gum The Santa Monica...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
28. The amount of time spent by an employee in the factory is usually recorded on: a. time tickets b. job order cost sheets c. employees' earnings records d. statement of owners'equity 29. The entry...
Use matrix A to encode the message "To be or not to be"?
A stock has a beta of 1.2. Assume that the risk-free rate is 4.5%, and the market risk premium is 5%. What is the stocks required rate of return?
Relate multiplicity, aggregation, and generalization to designing user interface classes. Provide examples.
Use Newtons method to find the coordinates of the inflection point of the curve y = e cos x, 0, < x < correct to six decimal places.
What would be the duration of the zero-coupon bond with 18 months to maturity, face value of $5,000,000, and a yield of 7.55% p.a.?
Lawmakers set to allow speedier Arctic drilling The U.S. government will allow Arctic drilling that would speed the development of oil and gas reserves off the Alaskan coast. Environmentalists say...
If the common pasture were converted to private land and fenced off, what quantity of milk would be produced? Cows graze on common pasture and can produce milk in the amounts shown in Table 1. The...
Who would you say has the greatest responsibility within the marketing research industry to raise the standards of ethicsmarketing research suppliers, marketing research clients, or field services?
A firm has a capital budget of $30 million, net income of $35 million, and a target capital structure of 45% debt and 55% equity. If the residual dividend policy is used, what is the firms dividend...
Discuss the pros and cons of having the directors formally announce a firms future dividend policy.
How do flexibility options affect projects NPVs and risk?
Identify and explain three alternative current assets investment policies.
How would a reduction in the cash conversion cycle increase profitability?
Fortunado, Inc., uses activity-based costing to account for its chrome bumper manufacturing process. Company managers have identified four manufacturing activities: materials handling, machine setup,...
Which should drive action planning more, strengths or weaknesses? That is, is it more important to build on your strengths or to reduce your weaknesses? Explain.
A permanent increase in demand ______ economic profit in the short run and some firms will ____ in the long run. A. Does not change; exit the market B. Increases; enter the market C. Increases; raise...
A firms short-run supply curve is the same as _____ if it produces the good. A. Its marginal revenue curve B. The upward-sloping part of its marginal cost curve C. Its marginal cost curve above...
In the short run, the profit-maximizing firm will ________. A. Break even if marginal revenue equals marginal cost B. Make an economic profit if marginal cost is less than average total cost C. Incur...
Using the business idea of Creating a college/university shuttle bus for students use on and off campus for transportation needs, performing an STP analysis of choice. Should include an introduction;...
Select any industry and conduct a Google search for companies within that industry. Identify one company with poor ratings and identify the root causes of those poor ratings. Discuss how this affects...
5. Find the Ontario version of the Libel and Slander Act. Provide the full citation with pinpoint citation of the provision which states that, in cases of libel, one of the factors which the...

Classify each of the items in the list as a private good, a public good, a common

Question:

Step by Step Answer:

Answer Lets classify each item into the categories of private goods public goods common resources or natural monopoly goods New Years Eve celebrations ...View the full answer

Foundations Of Microeconomics

Students also viewed these Business questions