Answered: kerry and three of her friends have…

kerry and three of her friends have decided to watch a movie at the cinema. this movie can be classified as excludable: non-rival excludable; rival non-excludable, rival non-excludable: non-rival

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter30: Market Failure: Externalities, Public Goods, And Asymmetric Information

Section: Chapter Questions

Problem 9QP

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Explain what is meant by a good being “excludable.”
Assume that radio broadcasts are nonrival and nonexcludable. Two people, Artie and Bill, listen to the same radio station during their commute. Each person values the radio station at $3$3 per day. Both Artie and Bill loathe listening to advertisements. Listening to advertisements makes Artie and Bill each worse off by $1.50$1.50 per day. The radio station needs $2$2 per day to continue operating, which it currently earns from advertisers ($2$2 per day is exactly what the airtime is worth to the advertisers). The radio station is considering asking for donations from Artie and Bill and getting rid of the advertising. Artie and Bill can choose to donate to prevent advertisements or not. If only one chooses to donate, he must donate the whole $2$2 to get rid of the ads. If both choose to donate, each pays $1.$1. Assume that both Artie and Bill are each trying to gain the most net benefit possible, and that they do not cooperate with each other. What is the socially efficient way to…
There would be a potential market failure if a good was a. nonexcludable, but not if it was both excludable and nonrival b. nonrival, but not if it was both rival and nonexcludable c. both nonrival and nonexcludable, but not if it was either rival or excludable d. either nonexcludable or nonrival Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
If a good is excludable and has a near-zero marginal cost, it is probably a club good. Question 26Select one: True False Question 27 Not yet answered Marked out of 1.00 Flag question Question text Given that there is a limited quantity of pollution we can add to the Earth's atmosphere before it becomes degraded, we can regard the air as a common-pool resource. Question 27Select one: True False Question 28 Not yet answered Marked out of 1.00 Flag question Question text Positive externalities can cause Pareto-inefficiency. Question 28Select one: True False
Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in consumption." Is a slice of pizza excludable? Is it rival in consumption?
Which of the following goods is non-rival and non-excludable? a congested toll road a congested nontoll road an uncongested toll road an uncongested nontoll road
Which of the following is the best example of a good or service that would be considered rival and excludable? Select one: O a. the clothes on your back Ob. the U.S. Secret Service O c. the N.C. State Highway Patrol O d. the Federal Bureau of Investigation
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d/qui//attempt.php?attempt%3D19719928&lcmid%3D1786124 Clackamas Students Faculty English (United States) (en_us) Oh. There are positive externalities associated with smoking. 10 long-run. Smoking will decrease more in the short-run than in the O j. Smoking will decrease only slightly in the short-run. The cost of rental housing has ballooned over the past decade, and so the government is considering implementing a rent control law. The current market rate for rental housing is $1300 per month, and the government proposes a rent ceiling of $1000 per month. of Which of the following statements are false? (Select all that apply.) estion There will be a shortage of housing. Ob. The rent-control law will have no effect on the market. The law would make rental units more expensive. d. There will be an excess supply of housing. The law may result in an increase in the cost of non-rental housing. We would except to see an increase in the supply of non- rental housing units. g. The government…
Goods that are inherently non-excludable and unrivalled are referred to as .
Correcting for negative externalities - Regulation versus tradablepermits Suppose a municipality votes to reduce the combined pollution introduced by three local companies. Presently, each firm creates 4 units of pollution in the area, for a total of 12 pollution units. The government can reduce total pollution in the area to 6 units by choosing between the following two methods: Methods to Reduce Pollution 1. The government imposes pollution standards using regulation. 2. The government issues tradable pollution permits. The costs faced by each firm are different, so it is more difficult for some firms to reduce pollution than others. The following table shows the cost faced by each firm to eliminate each unit of pollution. Assume that the cost of eliminating all 4 units of pollution (that is, reducing pollution to zero) is prohibitively expensive for all three firms. Firm Cost of Eliminating the... First Unit of Pollution Second Unit of Pollution…
A Moving to another question will save this response. Quèstion 15 Goods that are excludable include both private goods and club goods. public goods and common resources. common resources and private goods. club goods and public goods. A Moving to another question will save this response.