Take a look at the following list of goods and services: Apples Open-heart surgery Cable television Farm-raised

Question:

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 nonexcludable? 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?n68

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Modern Principles Of Economics

ISBN: 9781429239974

2nd Edition

Authors: Tyler Cowen, Alex Tabarrok

Question Posted: