Question

9. In one sentence state whether each good below is private, pure public, or partially public....

9. In one sentence state whether each good below is private, pure public, or partially public.

·         Golden Gate Bridge
·         F-35 fighter jet
·         11th Grade education in California
·         Jamoca Almond Fudge® ice cream from Baskin-Robbins
·         This ECN 130 course at UCD
·         The air that we breathe
·         My Lego watch
·         Lake Tahoe
·         A 70 MPH speed limit on interstate highways
·         Local weather forecasts


10.   Very briefly explain in words and/or graphs why we say that to determine the “efficient” quantity of a PPRIVATE GOOD we add up the individual demand curves for this good horizontally.

11.   Very briefly explain in words and/or graphs why we say that to determine the “efficient” quantity of a PUBLIC GOOD we add up the individual demand curves for this good vertically.

Homework Answers

Answer #1

private goods : excludable and marginal cost of providing good is positive

pure public goods : non excludable and 0 marginal cost

partial public goods : either of two features of pure public good is absent ,

golden gate bridge partial public ( as they may be cost imposed ) incase of congestion
F-35 jet

partially public

11th grade education

private good(as excludable )

jamoca almond fudge private good (as excludable )
this eon 130 course private good ( as excludable )
air we breathe pure public
lego watch private (as excludable)
lake tahoe pure public
70 mph speed limit on highways partially public ( as there may be fine for exceeding the limit)
local weather forecast partial public ( some people of other areas can be excluded )

(. answered 1 question as per policy )

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT