1.1. Take a look at the following list of goods and services: Apples Open-heart surgery Cable television...
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1.1. Take a look at the following list of goods and services:
Apples Open-heart surgery Cable television Farm-raised salmon Yosemite National Park Central Park, New York City The Chinese language The idea of calculus
a. Is each item on the list excludable or non excludable? Sometimes the border is a little fuzzy, but justify your answer if you think there's any ambiguity.
b. Rival or nonrival?
c. Based on your answers to parts a and
b, sort each good or service into one of the four categories from Table 18.1.
d. How do you exclude people from a park?
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Related Book For
Modern Principles Microeconomics
ISBN: 9781429239998
2nd Edition
Authors: Tyler Cowen, Alex Tabarrok
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