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

See similar textbooks

Similar questions

There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs
explain the concept of 8R's in saving natural resources
Using ordinal numbers in directions should be explained 0 avoided bо recommended CO forced
Typed plz And Asap thanks
A device that cost 50000 at the start of the year lose 10% of its value each year. find out how much a book is worth when is 10 years old
A certain amount of money was invested for two year at a rate of 7%. At the end of that year it had earned $875. How much money was invested? Answer is Blank 1 Blank 1 Add your answer
Why being an OFW considered a choice and not an option?
Please no written by hand and no emage
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:
do it fast please
5. It is a common practice in lending companies that the interest is deducted at the time money is borrowed. Mr. Anito applied a loan amount of P 50,000 with an interest rate of 16% per year. During the time he received the money, the 16% interest is being deducted and he received only P 42,000. At the end of one year, Mr. Anito has to pay P 50,000. What is the actual rate of interest?