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:
• Fire protection
• A seat at the final match of the U.S. Open (tennis)
• A pay-per-view movie on television
• The Mississippi River
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Fire protection is nonrival and nonexcludable so it is a publi...View the full answer
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