Classify each of the following goods listed in the table below as a public good, a private good, a club good, or a common resource. Public Good Private Good A certified pre-owned hybrid electric car that you use to drive your roommates to class A cabana on the beach that is open to the public Club Good Common Resource

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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For the following can you explain what would be considered a private good and club good? 

 

Thank you so much for your time and response. 

1. What kind of good is it?
Classify each of the following goods listed in the table below as a public good, a private good, a club good, or a common resource.
Public
Good
A certified pre-owned hybrid electric car that you use to drive your
roommates to class
A cabana on the beach that is open to the public
A large, beautiful sculpture in a city center
Private
Good
O
OO
Club
Good
O
oo
Common
Resource
O
• O
Transcribed Image Text:1. What kind of good is it? Classify each of the following goods listed in the table below as a public good, a private good, a club good, or a common resource. Public Good A certified pre-owned hybrid electric car that you use to drive your roommates to class A cabana on the beach that is open to the public A large, beautiful sculpture in a city center Private Good O OO Club Good O oo Common Resource O • O
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