problem set 5 - ± 4.8 ± 4.9 ± Carefully study Figure 5-8...

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Dr. Seiji Steimetz ECON 101 Department of Economics California State University, Long Beach Page 1 of 1 Problem Set 6 Please complete the following end-of-chapter “ Problems and Applications in Hubbard & O’Brien. I encourage you to work these problems in groups. Chapter 5 ± 1.7 ± 1.8 ± 1.9 ± 1.11 ± 2.6 ± 2.7 ± 3.3 ± 3.8 ± 3.9 ± Carefully study Figure 5-6 on page 149 and your related lecture notes ± 4.5
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Unformatted text preview: ± 4.8 ± 4.9 ± Carefully study Figure 5-8 on page 153 to make sure you understand what distinguishes Private Goods, Common Resources, and Public Goods (in terms of rivalry and excludability) Important Note Be sure to look at all of the “ Review Questions ” as well. You don’t need to write out answers to them – just work through them verbally or discuss them with your study group....
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