A. rival but not excludable
B. not rival but excludable
D. neither rival nor excludable
A. rival good
C. common resource
D. private good
A. Grant right of the clean air to citizens so that firms must purchase the right to pollute
C. Auctions off pollution permits.
D. Regulate the amount of pollutants that firms can put in the air
A. a good produced by a natural monopoly
B. a common resource
C. excludable
A. not rival but excludable
B. both rival and excludable
D. neither rival nor excludable
B. the rivalness problem
C. the public goods problem
D. the Tragedy of the Commons.
A. It is efficient for each neighbour to pay 3,000 to repair the section of street in front of his/her home
B. None of these answers are true
C. it is not efficient to have the street repaired
A. a public goods
B. a common resource
C. rival
A. a costly rider
B. excess baggage
C. a common resource
D. an unwelcome rider
A. Whales in the ocean
B. apples on a tree in a public park
D. hot dogs at a picnic
B. fails to produce goods but is allowed to consume goods.
C. pays for a good but fails to receive any benefit from the good
D. produces a good but fails to receive payment for the good
A. private goods are under consumed
B. public goods are underproduced
C. natural monopolies overproduce goods.
A. a private good
C. an excludable good.
D. a public good.
A. that prices are not high enough, so people overconsume
B. government regulation
D. that prices are not low enough so firms over produce
A. rival but not excludable
B. neither rival nor excludable
D. both rival and excludable
A. the benefits are infinite because a public good is not rival and an infinite amount of people can consume it at the same time
C. there are no benefits to the public since a public good is not excludable
D. one can never place a value on human life or the environment
B. rival but not excludable.
C. both rival but excludable
D. not rival but excludable
A. a firework displays
B. iron one
D. national defense
A. Rs50,000 or more
B. Rs 150 or more
D. Rs100 or more
E. Rs500 or more
B. a good produced by a natural monopoly
C. a public good
D. a common resource
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