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Author Question: State whether each of the following goods and services is nonrival, nonexcludable or both: a. A ... (Read 91 times)

misspop

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on: Jun 29, 2018
State whether each of the following goods and services is nonrival, nonexcludable or both:
 
  a. A toll road
  b. A public park
  c. A lighthouse
  d. An art museum
  e. A radio broadcast of A Prairie Home Companion

Question 2

The branch of economics which studies how households and firms interact in markets is called
 
  A) macroeconomics. B) positive economics.
  C) normative economics. D) microeconomics.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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jonathanballen97

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. Nonrival, although rivalry could exist during traffic congestion.
b. Both, although rivalry could exist under some circumstances, such as when there is a sporting event or a private party.
c. Both
d. Nonrival and excludable if admission requires the purchase of a ticket.
e. Both

Answer to Question 2

D


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misspop

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Reply #2 on: Jun 29, 2018
Correct answers!


jonathanballen97

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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