Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 2MCQ
To determine
To choose:
The correct option stating the goods for which free rider problem arises.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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.
pointe
If you can prevent someone from consuming a good, that good is called
A. nonexcludable.
B. rival.
C. a public good.
D. excludable.
E. nonrival.
Which one does not belong to the externalities contributed by oil?
a. Emissions that pollute the environment.
b. National security
c. Hydrocarbons that potentially contribute to climate
d. Mercury emission from burning oil to produce electricity.
Chapter 11 Solutions
Foundations of Economics (8th Edition)
Ch. 11 - Prob. 1SPPACh. 11 - Prob. 2SPPACh. 11 - Prob. 3SPPACh. 11 - Prob. 4SPPACh. 11 - Prob. 5SPPACh. 11 - Prob. 6SPPACh. 11 - Prob. 7SPPACh. 11 - Prob. 8SPPACh. 11 - Prob. 9SPPACh. 11 - Prob. 10SPPA
Ch. 11 - Prob. 1IAPACh. 11 - Prob. 2IAPACh. 11 - Prob. 3IAPACh. 11 - Prob. 4IAPACh. 11 - Prob. 5IAPACh. 11 - Prob. 6IAPACh. 11 - Prob. 7IAPACh. 11 - Prob. 8IAPACh. 11 - Prob. 9IAPACh. 11 - Prob. 1MCQCh. 11 - Prob. 2MCQCh. 11 - Prob. 3MCQCh. 11 - Prob. 4MCQCh. 11 - A renewable common resource is used sustainably if...Ch. 11 - Prob. 6MCQCh. 11 - Prob. 7MCQCh. 11 - When ITQs are assigned, the market price of an ITQ...
Knowledge Booster
Similar questions
- Which categories of goods are excludable?a. private goods and club goodsb. private goods and common resourcesc. public goods and club goodsd. public goods and common resourcesarrow_forwardexplains it correctlyarrow_forward19. Public goods have the following characteristics Orivaled Oexcludable Onon-excludable Olow social value which causes the following issues for producers Ofree riding Ohigh regulatory burden Onegative externalities Oprivate benefitsarrow_forward
- 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 buildingarrow_forwardA good that is rival and non-excludable is?arrow_forwardWhich of the following is an example of an externality? (x) cigarette smoke that permeates an entire restaurant (y) a flu shot that prevents a student from transmitting the virus to her roommate (z) a beautiful flower garden outside of the local post office Select one or more: a. (x), (y) and (z) b. (x) and (y) only c. (x) and (z) only d. (y) and (z) only e. (y) onlyarrow_forward
- A9.arrow_forwardWhen a company is granted a patent by the U.S. government, Select one: a. a piece of general knowledge becomes excludable. b. a piece of specific, technical knowledge becomes rival in consumption. C. a piece of general knowledge becomes rival in consumption. d. a piece of specific, technical knowledge becomes excludable.arrow_forwarda. A popular national forest known for having dozens of access points for its well-used hiking trails located along public roads and highways is nonexcludable and nonrival b. An even more popular national park, which charges an entrance fee, is c. National defense is nonexcludable and nonrival d. A seat on a subway train is excludable and rival excludable and rivalarrow_forward
- Typed answer onlyarrow_forwardWhich 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 Investigationarrow_forwardThe market works efficiently in the absence of externalities if the good is a rival and excludable. b nonrival and nonexcludable. c nonrival and excludable. d rival and nonexcludable. e rival and either excludable or nonexcludable.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning