EconomicsWhich of the following goods is nonexcludable?O a can of CokeO a concert at Radio City Music HallO national defenseO an apartment building

Non excludability is the feature of certain goods. Usually public goods are non excludable and non…

Answered: Which of the following goods is…

Business

Economics

Which of the following goods is nonexcludable?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 35CTQ: From an economic perspective, is it sound policy to pursue a goal of zero pollution? Why or why not?

See similar textbooks

Related questions

Q: There would be a potential market failure if a good was a. nonexcludable, but not if it was both…

A: Public Goods:Public goods are goods that are both nonrivalous and non- exclude able. Nonrivalous…

Q: Goods that are inherently non-excludable and unrivalled are referred to as

A: Introduction, Similar good: The word "availability" refers to how many people a product can help. If…

Q: Which of the following illustrates the concept of externalaties? A. A hurricane destroys a…

A: An externality is the benefit or costs associated with an activity that is born by the third party…

Q: Which of the following is an example of a product that is nonexcludable and rival? O A fishing pond;…

A: - Excludable goods: You can prevent people from using them if they haven't paid or obtained…

Q: What does it mean for a good to be excludable?

A: Excludable: It means the good and services are considered to be excludable when it is possible to…

Q: Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in…

A: Excludable: - it is a condition where a person can stop another person from using a good or service.…

Q: Define externality and it's importance.

A: A cost or benefit that is not included in the cost of a commodity or service is known as an…

Q: Draw a graph of water pollution as a negative externality and explain it

A: An economy wanted to produce maximum number of goods in a short time frame. It makes the producers…

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

A: Consider the following table: Private goods are excludable and rival in nature. Food, cloth, and so…

Q: Are corporations responsible for the externalities they create?

A: Externalities are defined as situations which tends to have an effect on the consumption and the…

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

A: Any goods can be categorized based on rivalry and excludability. This can be illustrated by the…

Q: What is an environmental pollution

A: Environmental pollution is defined as "the contamination of the physical and biological components…

Q: Discuss five benefits of environmental regulation?

A: Meaning of Environmental Regulation: Here, the term environmental regulation is all about…

Q: Which of the following goods is non-rival and non-excludable? a congested toll road a…

A: A good is a Nonrival good (based upon the consumption of the goods) if it is consumed by more than…

Q: Explain what is meant by a good being “excludable.”

A: People consume goods and services to fulfill their needs and necessities. Goods can be broadly…

Q: What does it mean to demand that companies "internalize" their externalities?

A: There are 2 types of externalities - positive and negative. Suppose a corporation manufactures a…

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 is an externality

A: We know that An externality occurs when there is an economic action which takes place upon the…

Question

Economics
Which of the following goods is nonexcludable?
O a can of Coke
O a concert at Radio City Music Hall
O national defense
O an apartment building

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externality
An increase in globalization has lead to an increase in pollution, and this is a problem because pollution is seen to be the classic example of a This is a that individuals impose on others but do not pay for. O negative externality, cost O possitive externality, benefit O negative externality, benefit O possitive externality, cost
Q68
Five roommates arc planning to spend the weekendin their dorm room watching movies, and they arcdebating how many movies to watch. Here is theirwillingness to pay:Quentin Spike Ridley Martin StevenFirst film $14 $10 $8 $4 $2Second film 12 8 4 2 0Third film 10 6 2 0 0Fourth film 6 2 0 0 0Filth film 2 0 0 0 0Buying a DVD costs SIS, which the roommates splitequally, so each pays $3 per movie.a. What is the efficient number of movies to watch(that is, the number that maximizes total surplus)?b. from the standpoint of each roommate, what isthe preferred number of movies?c. What is the preference of the median roommate?d. (f the roommates held a vote on the efficient out~come versus the median voter's preference, howwould each person vote? Which outcome wouldg~ a majority?c. lf one of the roommates proposed a differentnumber of movies, could his proposal beat thewinner from part (d) in a vote?f. Can majority rule be counted on to reach efficientoutcomes in the provision of public go<Xis?
Fish that swim in international waters are a common good that are freely available toanyone who wants to catch them, but this leads to the problem of over-fishing. At theheart of this problem lies an externality. Using appropriate diagrams andaccompanying discussion, show both how and why this over-fishing takes place. Inyour explanation, identify the source of the externality.
Suppose that a mayor of a large city believes strongly that education provides great benefits to the community andurges the state government to provide the district with more money. An economist would say that this reflects theMayor's belief that:Asince teachers are overpaid, the district needs more money to hire enough teachers for its classrooms.Bthere are positive external benefits associated with education.Cthere are nontrivial external costs associated with education.Dpublic schools provide a higher quality education than private schools.
Plz
Help please
Figure 4 shows that for any given demand curve forthe right to pollute, the government can achieve thesame outcome either by setting a price with a correctivetax or by setting a quantity with pollutionpermits. Suppose there is a sharp improvement in thetechnology for controlling pollution.a. Using graphs similar to those in Figure 4, illustratethe effect of this development on the demand forpollution rights.b. What is the effect on the price and quantity of pollutionunder each regulatory system? Explain.
Question 29
The following graph shows the marketfor pollution rights.a. If there are no restrictions on pollution, what amount is discharged?b. What is the quantity supplied and the quantity demanded if the government restricts the amount of discharge to Q* but gives the permits away? c. Where is market equilibrium if the government sells the permits? Illustrate this on the graph.d. What happens to market equilibrium if the gvernment reduces the amount of discharge permitted to Q**? Illustrate this on the graph.