Asked by
julia hatch
on Oct 24, 2024
Verified
A lighthouse is a public good:
A) because it doesn't cost any more to light the way for 105 ships than it does to light the way for 104 ships, but for no other reason.
B) because there is no way to prevent those who haven't contributed to the lighthouse from seeing better because of it, but for no other reason.
C) because the government produces it, and for no other reason.
D) for the reasons in A and B together.
E) for the reasons in A, B, and C together.
Lighthouse
A tower equipped with a powerful light used to guide or warn ships at sea.
Public Good
A Public Good is a commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
- Draw a distinction between public goods and common property resources, focusing on their unique attributes and the provisioning challenges.
- Differentiate among goods based on their nature as either rival or nonrival, and as exclusive or nonexclusive, citing examples of each.
Verified Answer
AL
Learning Objectives
- Draw a distinction between public goods and common property resources, focusing on their unique attributes and the provisioning challenges.
- Differentiate among goods based on their nature as either rival or nonrival, and as exclusive or nonexclusive, citing examples of each.