Classify each of the following items as a public good, a private good, a natural monopoly good,
Question:
Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource. Explain your answer.
■ Highway patrol services
■ Internet service
■ Fish in the Atlantic ocean
■ UPS courier service
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1 Highway Patrol Services This is a public good Public goods are nonexcludable and nonrivalrous This ...View the full answer
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