Question
Classify each of the following goods (private good or public good, etc.). Justify your answer by discussing briefly rivalry and excludability. 1. business suit (jacket
Classify each of the following goods (private good or public good, etc.). Justify your answer by discussing briefly rivalry and excludability.
1. business suit (jacket and pants)
2. Defending earth from an asteroid strike
3. College lectures (assume the room is not full)
4. Unowned (public) grazing land
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Economics Today The Macro View
Authors: Roger LeRoy Miller
19th Edition
0134478762, 978-0134478760
