The public goods and private goods from the given data.

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Answer 1

Question

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

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Answer 2

Question

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

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Answer 3

Question

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

Answer 6

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.

Answer 7

Chapter 4, Problem 1DQ

Summary Introduction

To determine: The public goods and private goods from the given data.

Answer 8

Expert Solution & Answer

Explanation of Solution

a. Wilderness area

This is a pure public good. At certain point, this area has minimal human activity and usually referred to as wild area. This area is usually owned by a firm or individuals. Also, this is non- excludable.

b. Satellite television

This is a impure public good. Satellite televisions are non rival in consumption, though it is excludable.

c. Medical school education

This is a private good depending on the conditions. Any individual from society can get educated by meeting the required criteria. These criteria can result in public good and any person can avail it.

d. Public television programs

Television signals are non-rival in consumption and non-excludable when programs are broadcasted over the air. Hence, they are public good.

e. Automated teller machine (ATM)

This is a private good. An ATM machine is rival in consumption, at-least during peak hours. It is excludable as only certain customers who have ATM cards can use the machine.