This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain why a freeway isn't always considered to be a pure public good. What will be an ideal ... (Read 86 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
on: Jun 29, 2018
Explain why a freeway isn't always considered to be a pure public good.
 
  What will be an ideal response?

Question 2

Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. At an output of 10,000 units
 
  A) the marginal benefit of iced tea is greater than the marginal cost; therefore, output is inefficiently high.
  B) the marginal benefit of iced tea is greater than the marginal cost; therefore, output is inefficiently low.
  C) the marginal cost of iced tea is greater than the marginal benefit; therefore, output is inefficiently low.
  D) producers should lower the price to 1 in order to sell the quantity demanded of 10,000.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

britb2u

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

For the greater part of the day a freeway could be considered to be a pure public good since one person's enjoyment of the good doesn't interfere with anyone else's. However, that breaks down when we consider rush hour traffic in the morning and early evening. Commuters traveling during these times do indeed interfere with everyone else's enjoyment of the freeway but adding (albeit incrementally small amounts) to the commute time of everyone else traveling at that time.

Answer to Question 2

B


nramada

  • Member
  • Posts: 580
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
Good computer skills are now required to be a successful member of an office staff. Good computer skills are now required to be a successful member of an office staff.
When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ... When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ...
A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water. A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water.
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library