which of the following is not considered a public good course hero

Which of the following is a public good?

A public good is one that is non rival in consumption (can be consumed by everyone at the same time) and nonexcludable (no one can be easily excluded from consuming the good). Clean air meets both conditions, so it is a public good. A. rivalry in consumption.

Which statement about the nature of public goods is true?

Statement B is true: The nature of public goods is such that the government cannot accurately assess the benefits and costs of those affected. Often, it has to make educated guesses regarding the negative and positive effects of producing a public good.

What does the free rider problem suggest about public goods?

B. produce less than the optimal quantity of a public good. The free rider problem suggests that competitive markets will tend to produce much less than the optimal quantity of a public good. The essence of the free rider problem resides in the fact that people would tend to pay less or no pay at all for the public goods.

Is the public good rival or excludable?

By definition, a public good is neither rival nor excludable. The condition of non-rivalry implies that everyone can consume the public good simultaneously, that is, one person's consumption does not diminish the amount available to others.

What are some examples of public goods that satisfy the characteristics of non-rival and non-excludable?

Besides national defense, other examples of public goods which satisfy the characteristics of non-rival and non-excludable are public sanitation, scientific research and broadcast television. For any one of those examples, an additional consumer does not impact the amount of the good available to other consumers.

What is a public good?

A public good is one that is non rival in consumption (can be consumed by everyone at the same time) and nonexcludable (no one can be easily excluded from consuming the good). Clean air meets both conditions, so it is a public good. Public goods are characterized by: A. rivalry in consumption.

What is underproduction of private goods?

E. both private goods that generate external benefits and public goods. E. both private goods that generate external benefits and public goods. Without government intervention, society is likely to get underproduction of both private goods that generate external benefits and public goods. The underproduction of private goods with positive ...

Why does underproduction of private goods with positive externalities happen?

The underproduction of private goods with positive externalities happens because the price of the good does not reflect the extra value of producing the good. If all benefits were taken into consideration, the prices of these goods would be lower and the quantity demanded would be greater.

What is the nature of public goods?

The nature of public goods is such that the government cannot accurately assess the benefits and costs of those affected. E. Just as in the case of external benefits, public goods tend to be underprovided by the private sector. A. All of the other answers are true. Statement A is true: The government may be able to overcome ...

What are the characteristics of a public good?

Public goods are those that are consumed by the paying and nonpaying public alike. The defining characteristics of a public good are non-excludability and non-rivalry.

What is the problem with a competitive economy with no government sector?

B. there will be too few public goods produced. In a competitive economy with no government sector, there will be too few public goods produced. The fact that public goods are non-excludable and non-rival makes it very difficult to provide these goods privately.