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For following Goods, try to explain whether or not they are public goods: National defense; NJ...

For following Goods, try to explain whether or not they are public goods: National defense; NJ turnpike; Bear Mountain; NY Central Park and hot dogs. If you think some of them are public goods, please tell me they are no rival, nonexclusive or both.

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Answer #1

National defense is a public good because its both non rivalrous as well as non excludable.

Hot dogs is not a public good because its rivalrous as well as excludable.

NJ Turnpike is not a public good because its only non-rivalrous. Its excludable since people have to pay toll fees while going through this toll road.

Bear mountain is a public good because its both non rivalrous as well as non excludable.

NY central park is public good that is nonexcludable and non rivalrous.But it can be rivalrous in consumption based upon public use relative to its capacity(in special circumstances).

If you have any doubt ,feel free to ask.

Don't forget to thumbs up.

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