Question
Everyone seems to agree that it's a problem that firefighters won't put out a fire unless they've been paid beforehand, but maybe the local government
Everyone seems to agree that it's a problem that firefighters won't put out a fire unless they've been paid beforehand, but maybe the local government isn't ready to put together their own fire department just yet. So instead, they simply pass a law saying that private firefighters must put outany fire, even if they haven't been paid for it.
Thinking about goods being rival and/or excludable, this law changes firefighting so that it is [________], even though it was the opposite before.
which of the following correctly fills in this blank?
a. Non-excludable
b. Excludable
c. Non-rival
d. Rival
Something to keep in mind about firefighters is that most of the time (unless there's a huge city-wide blaze), there's no fire, and the firefighters aren't busy fighting fires, so firefighters protecting an additional building doesn't really take them away from the original buildings they were protecting. Combining this fact with the law, firefighting is now a [_______] .
which of the following correctly fills in this blank?
a. Public good
b.Private good
c. Commons good
d. Artificially scarce good
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