Public goods are defined as non-excludable and non-rival in consumption. If something is close to a public good (meaning that it is very difficult for sellers to exclude consumers or it is only rival in consumption at some times) we sometimes refer to it as a quasi-public good. Technology has made some goods or services quasi-public goods in that they are easier to share and sellers can't prevent consumers for using the good without paying for it. Offer an example of a good that has become a public (or quasi-public) good due to technology. Explain how technology has made this good non- rival in consumption or non-excludable. Is there a free rider problem with the good you mentioned? How can the free rider problem be addressed in this example? 8-10 sentences

Public goods are defined as non-excludable and non-rival in consumption. If something is close to a public good (meaning that it is very difficult for sellers to exclude consumers or it is only rival in consumption at some times) we sometimes refer to it as a quasi-public good. Technology has made some goods or services quasi-public goods in that they are easier to share and sellers can't prevent consumers for using the good without paying for it. Offer an example of a good that has become a public (or quasi-public) good due to technology. Explain how technology has made this good non- rival in consumption or non-excludable. Is there a free rider problem with the good you mentioned? How can the free rider problem be addressed in this example? 8-10 sentences

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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B. The late Anne Collins had 3 children, Mary, John and Hana who unfortunately all predeceased Anne leaving several Anne's grandchildren and great grandchildren. Unfortunately, Anne died intestate without a will or trust. She is survived by: Mary's daughters Emma and Joan John's son Patrick who has 2 children Joe and Frank; Frank has 1 child Eddy. Hana's daughter Elizabeth is also deceased leaving 2 children Jim and Eva. (i) Please fill in the table taking into consideration that Anne died without a will/trust and therefore the distribution shall be according to the CA intestacy laws (Modified Per Stirpes PC 240). Each Emma and Joan Mary's spouse Each of Patrick's 2 children Joe and Frank Each of Elizabeth's 2 children Jim and Eva Patrick's grandchild Eddy Patrick MPS Ø
Figure A Q Figure B Figure C Price (dollars per unit) 15- Price (dollars per unit) 15 Price (dollars per unit) 15- 14- 13- 12- 11- 10- MC MC 14- 14- 13- 12- 11- 10- „MC ATC 13- 12- 11- 10- ATC ATC MR MR MR 9- 9- 9- 8- 8- 8- 7- 7- 6- 90 100 100 100 1i0 Quantity (units) 90 110 90 110 15 Qua Quantity (units) Quantity (units) Consider a perfectly competitive firm in a short-run equilibrium. Figure shows a firm in bad times because the firm produces units and makes a(n) O A. A; 100; economic loss O B. B; 90; economic profit O C. A; 110; economic loss O D. C; 100; economic loss O E. C; 100; normal profit
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Exercise: 01 Issue a promissory note: ⑴Amount ￡3,026.00 ⑵Date and place of issue 8/August/2009，Guangzhou, China ⑶Tenor At 90 days after date ⑷Maker Guangdong Imp. & Exp. Co., Guangzhou ⑸Payee Chemicals Import & Export Company London ⑴Drawer Thames Enterprises Ltd., London ⑵Drawee The National Westminster Bank Ltd., London ⑶Payee Philips Hong Kong ⑷Date and place of issue 07/01/2001，London ⑸Amount GBP79,014 Exercise: 02 Issue a check:
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