Question

) For each of the following, indicate if it is a public good (per the definition...

) For each of the following, indicate if it is a public good (per the definition of a public good in the text) and explain your answer:

  • a bus
  • a park
  • birds in a park
  • a library
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Answer #1

Answer : If goods are non-rival and non-excludable then they are public goods.

A bus : Bus is not a public good. Because it is not a non-rival and non-excludable good.

A park : Park is a public good. Because one person's consumption of park does not decrease the park consumption of other persons. So, park is a non-rival and non-excludable good.

Birds in a park : Birds in a park is a public good. Because it is non-rival and non-excludable. Because the consumption of one person seeing birds in a park does not decrease the consumption of other persons' seeing birds in a park.

A library : Library is not a public good. Because library is excludable. Public good have to be non-excludable and non-rival.

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