When consumption of a good is non-rival and excludable, the good is a. Public good Private good None of the above

Q: Which of the following is an example of an externality? (x) cigarette smoke that permeates an…

A: Externalities are important concepts in economics, representing the unintended side effects or…

Q: Is the following good a private good, a public good, a common resource, or a club good? Explain why…

A: Rival or non-rival: Goods are classed as either rival or non-rival. A competitor good is anything…

Q: Externality is a problem that create market failure. How the externalities can be internalized to…

A: Externality causes market failure.Externality may be positive or negative and its effect causes…

Q: Which of the following is an example of a positive externality? A. Pollution from a factory B. Noise…

A: Externalities are unintended side effects of economic activities that affect third parties not…

Q: Name two public goods and explain why they are public goods

A: By definition public goods(G) are those which are non-excludable and non-rivalry. They are consumed…

Q: In what ways do company investments in research and development create positive externalities?

A: Answer: Positive externality refers to the positive impact on a party due to the actions of another…

Q: The farmer takes the rancher to court and the judge decides putting up a fence is the farmer’s…

A: An economic concept known as an externality refers to the unintentional side effects or…

Q: A way to equate marginal social cost and marginal private cost to eliminate externalities would be

A: Marginal Social Cost (MSC)  refers to the additional cost imposed on society as a whole when an…

Q: Which of the following is a positive externality?

A: Positive externality is the externality which impacts the society positively.  It occurs when the…

Q: Which of these are Rival in Consumption but not Excludable? O Private Goods O Club Goods O Public…

A: A common good, likewise called a common property asset, is a good that is non-excludable and rival.…

Q: Which categories of goods are excludable?a. private goods and club goodsb. private goods and common…

A: Excludable goods are those goods which if provided then it is possible to exclude a person from…

Q: What happens to the private benefit curve and the private cost curve?

A: In this case, we have to find out two terms i.e. private benefit curve and private cost curve.…

Q: The market works efficiently in the absence of externalities if the good is   a rival and…

A: The externality is defined as the cost or benefit that is unrelated to the third party involved. It…

Q: How do social costs and benefits differ from private costs and benefits?

A: Private costs for the manufacturer of a good/service shows the costs that the firm pays to buy…

Q: Which of the following is the best example of a good or service that would be considered non-rival…

A: The goods and services are classified under two main categories which are the private goods and…

Q: Mankiw Chapter 11 2 b Are the externalities associated with common resources generally positive or…

A: Externalities are harmful or beneficial side effects borne by those not directly involved in the…

Q: Which of the following will most likely generate positive externalities of consumption? a. A hot dog…

A: Positive externalities of consumption:- When consuming a good results in a positive overall to a…

Q: Differentiate between a public good and common resources.

A: In a market, one of the participants is a seller serves different types of products and resources…

Q: A good that is rival and non-excludable is?

A: In Economics there are four types of goods depending on whether goods are excludable and/or…

Q: What are public goods ? State few examples of public goods.

A: Public goods are goods which are non-rivalry and non-excludable in consumption. These goods are used…

Q: Which of the following is the best example of a good or service that would be considered non-rival…

A: A commodity or a service is non-rivalrous in nature – if the consumption of that good by a person is…