For each of the following goods or services, would you classify it as a public good, a local public or club good or congestible good, or a private good (with or without externalities)? Explain your choice. Could some of them fall in one or another category depending on the assignment of property rights? • the Supreme Court • a local magistrate’s court • the interstate highway system • college education • a beach • the stars at night viewed from outdoors • the stars viewed at a planetarium

For each of the following goods or services, would you classify it as a public good, a local public or club good or congestible good, or a private good (with or without externalities)? Explain your choice. Could some of them fall in one or another category depending on the assignment of property rights? • the Supreme Court • a local magistrate’s court • the interstate highway system • college education • a beach • the stars at night viewed from outdoors • the stars viewed at a planetarium

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 4PA

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