1. Indicate whether or not the following goods are nonrival and nonexcludable, explaining if necessary: PSAA...

1. Indicate whether or not the following goods are nonrival and nonexcludable, explaining if necessary:

PSAA 621: Economic Analysis

Good	Nonrival	Nonexcludable
Post office
National Defense
Flood control
Social Security
Books in public libraries
TV programs
A beautiful Sunset

Solutions

Expert Solution

Post office : Nonrival & excludable

Non rival: A good is non rival if its usage by one person does not reduce the amount available for others consumption, hence, post office is non rival.

Excludable: It is excludable as there are some cost involved in using the services offered by post office like stamps,etc. (though very small), if an individual is unable to pay these costs, he/she will be excluded from its usage.

National Defence: Non rival and non excludable

Non rival: As it can be provided to many people at the same time without any additional cost.

Non excludable: One cannot be excluded from its provision if an area/nation is being defended.

Flood control: Non rival & Non excludable

Social security : Non rival & excludable

Books in public library: Rival & Non excludable

TV programs: Non rival & excludable

A beautiful sunset: Non rival & non excludable

For more refer : https://www.reviewecon.com/rival--excludable.html

Rahul Sunny answered 1 year ago

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