1.A)

A local hiking trail that does not have an entrance gate and is usually not crowded is an example of what type of good?

Group of answer choices

private good

public good

club good

monopolistic good

1.B)

A tire company is adjacent to a river and in the production of tires a byproduct is discarded into the river. As a result a downstream user of the river experiences a decline in the fish harvested. The person fishing is experiencing:

Group of answer choices

a positive externality

a negative externality

diminishing marginal returns

diminishing marginal product