When thinking about types of goods, what does rivalry mean? What does excludability mean? What are...

When thinking about types of goods, what does rivalry mean? What does excludability mean? What are the four category of goods we can identify using those attributes, and what is an example of a good in each category?

Expert Solution

Rivalry -A good will be rival in nature if its consumption by one consumer prevents simultaneous consumption by other consumers meaning the consumption of a good by one person will reduce the consumption of that good for other.

Excludability - Agood is said to be excludable if it is possible to prevent consumers who have not paid for it from having access to it.

The four types of goods are

Private goods- these goods are rival and excludable. For example ham burger

Public goods - these goods are non rival and non excludable. For example pollution

Common goods- these goods are rival and non excludable. For example public waterways

Law congestional goods- these goods are excludable and non rival. For example cable television

Rahul Sunny answered 2 years ago

When thinking about types of goods, what does ri valry mean? What does excludability mean? What...

When thinking about types of goods, what does ri valry mean? What does excludability mean? What are the four categories of goods we can identify us ing those attributes, and what is an example of a good in each category?

Exercise 12.7 Rivalry and excludability For each of the following goods or bads, decide whether they...

Exercise 12.7 Rivalry and excludability For each of the following goods or bads, decide whether they are rival and whether they are excludable, and explain your answer. If you think the answer depends on factors not specified here, explain how. A free public lecture held at a university lecture theatre Noise produced by aircraft around an international airport A public park A forest used by local people to collect firewood Seats in a theatre to watch a musical Bicycles available...

1. Classify the following goods according to their excludability and rivalry. Explain your reasoning. a) Your...

1. Classify the following goods according to their excludability and rivalry. Explain your reasoning. a) Your Facebook page. b) A seat at the final game of the NCAA men's basketball tournament (go Duke!) c) A pay-per-view movie on television. d) Amazon's webpage. e) Firefighting services. f) A trip to space on Virgin Galactic.

In the context of public goods, what is meant by non-rivalry versus rivalry in consumption? What...

In the context of public goods, what is meant by non-rivalry versus rivalry in consumption? What is meant by non-excludability versus excludability in consumption? Give an example of a commodity that is both non-rival and non-excludable? Could a commodity have one of these properties without the other? What is an open access resource? How does it differ from a private good? How does it differ from a public good? Could private provision of a public good occur? Give an example...

When an organization is thinking about differentiation, what should they be looking for and thinking about?...

When an organization is thinking about differentiation, what should they be looking for and thinking about? Do they need to be completely different from their competition in every way? Do they need to be just slightly different? Does the answer depend upon the situation?

What does Kelly mean when he refers to “creativity”? Give an example of creative thinking from...

What does Kelly mean when he refers to “creativity”? Give an example of creative thinking from your own experience, using Kelly’s cycle to structure your discussion. Contrast Kelly’s definitions of anxiety and aggression with those notions as they were developed by Freud and later by Dollard and Miller. Which theorist’s approach to psychotherapy is most similar to Kelly’s? Explain your answer by comparing both the goals and methods of therapy.

When Russell talks about things like “prejudice” and “common sense”, what does he mean? How does it relate to “thinking critically” and “seeing all sides of the issues”?

What does it mean when we talk about leakages in the circularflow? How will the...

What does it mean when we talk about leakages in the circular flow? How will the multiplier be affected if people become more pessimistic?

When the oxidation number increases, what does that mean about the number of electrons the atom...

When the oxidation number increases, what does that mean about the number of electrons the atom has control over? In other words, if the oxidation number Increases is the atom getting oxidized or reduced

When thinking about profit margins -- does the scale matter? If the damages period was 6...

When thinking about profit margins -- does the scale matter? If the damages period was 6 months and the incremental volume was 10% of the actual sales, or the damages period was 10 years and the incremental volume would have doubled the plaintiff's sales -- would that matter in terms of how you'd think about what costs are incremental for the purposes of calculating damages?

Question