Classify each of the following items as a public good, a private good, a natural monopoly good,
Question:
Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource. Explain your answer.
■ Pastures of the Italian countryside
■ Streetlights in Prague
■ An apartment in a complex
■ Cable television service
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1 Pastures of the Italian countryside This is a common resource This is because pastures especially in a countryside are often not owned by any partic...View the full answer
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