xeco212_appendix_c - No. Yes and no Yes because it is...

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Axia College Material Appendix C Differentiating Between Market Structures Table and Questions Fill in the matrix and describe differences in public and private goods, common resources, and natural monopolies. Use your book and the Tomlinson video tutorials as a tool to help you answer questions about market structures. Example Is there a rival in consumption? Is it excludable? Private Good Clothing No. Only in specific brands but there are no alternatives to clothing; we have no choice but to wear it. Considering the fact there are places with free clothing and it is illegal to go in public nude I think it is non-excludable. Public Good Public television No. No because its free for anyone who has a tv Common Resource Water No. No. It is free to all. Natural Monopoly Internet service
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Unformatted text preview: No. Yes and no Yes because it is supposed to be paid for or password protected. But some people can log into others internet so in a way its not. xeco212r1 1. What is the difference between a public good and a private good? A public good is something that everyone has equal rights to use if permitted. A private good is owned by a specific person and that person has the rights to it. 2. What is a common resource? It is basically a natural or mad-made system is very hard to copy and become competition for it. 3. What is a natural monopoly? It’s something that happens when high start of costs of operating a business but it is essential to be sure that the consumer is not being robbed and the prices are jacked up. xeco212r1...
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This note was uploaded on 05/30/2011 for the course XECP 212 taught by Professor A during the Spring '11 term at University of Phoenix.

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xeco212_appendix_c - No. Yes and no Yes because it is...

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