24. When a good or service is Non-Rival and Non-Excludable, it is is classified as a a) Private Good b) Externality e) Club Good d) Public Good
24. When a good or service is Non-Rival and Non-Excludable, it is is classified as a a) Private Good b) Externality e) Club Good d) Public Good
Chapter6: Population Health
Section: Chapter Questions
Problem 8QAP
Related questions
Question
![24. When a good or service is Non-Rival and Non-Excludable,
it is is classified as a
a) Private Good
b) Externality
e) Club Good
d) Public Good
25. An economist reasons as follows: "Time spent at home
taking care of a child is time not spent earning income, so the
opportunity cost of having a child includes the potential wage
earnings women give up by parenting." Assuming we agreed
with this, and that women enjoy children (and/or invest in
them to be taken care of in retirement), we would conclude
that, all else equal:
b)
a) in societies were wages for women's work is low,
women are likely to choose to have more babies.
in societies were wages for women's work is low,
women are likely to choose to have fewer babies.
women have too many children in poor countries
economists cannot make any predictions about the
determinants of population growth.
c)
d)
26. Digital music files can be easily and almost withor
duplicated and transmitted to thousands of users who
download them via free file-sharing programs over
internet. A music recording is a type of economic
has characteristics that make it
4
a) a negative externality.
b) rival and excludable.
c) non-rival and not always excludable.
d) price discriminating.
27. An unregulated monopolist maximizes pro
a) marginal revenue = marginal cost.
b) price=marginal revenue.
c) price
=
average cost.
d) price=marginal cost.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2db3d51c-03fb-4c75-9ba3-c83d57c53f5a%2F3aa2789e-42e6-4967-9ea4-6bee9190e52e%2Fy7xr2v7_processed.png&w=3840&q=75)
Transcribed Image Text:24. When a good or service is Non-Rival and Non-Excludable,
it is is classified as a
a) Private Good
b) Externality
e) Club Good
d) Public Good
25. An economist reasons as follows: "Time spent at home
taking care of a child is time not spent earning income, so the
opportunity cost of having a child includes the potential wage
earnings women give up by parenting." Assuming we agreed
with this, and that women enjoy children (and/or invest in
them to be taken care of in retirement), we would conclude
that, all else equal:
b)
a) in societies were wages for women's work is low,
women are likely to choose to have more babies.
in societies were wages for women's work is low,
women are likely to choose to have fewer babies.
women have too many children in poor countries
economists cannot make any predictions about the
determinants of population growth.
c)
d)
26. Digital music files can be easily and almost withor
duplicated and transmitted to thousands of users who
download them via free file-sharing programs over
internet. A music recording is a type of economic
has characteristics that make it
4
a) a negative externality.
b) rival and excludable.
c) non-rival and not always excludable.
d) price discriminating.
27. An unregulated monopolist maximizes pro
a) marginal revenue = marginal cost.
b) price=marginal revenue.
c) price
=
average cost.
d) price=marginal cost.
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