Week 4 xeco212_appendix_c[1]

Week 4 xeco212_appendix_c[1] - Axia College Material...

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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 Cheeseburger Because the good is food it can only be consumed by one person. No other person can eat the cheeseburger once one person purchases it and eats it The good is excludable because it has to be purchased and someone can be prevented from using it. Public Good Public Park A park is not rival in consumption because once one person uses the park it doesn’t stop another person from experiencing the same park. Many individuals can experience the same park all at the same time Public parks are open to all people. There are no
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This note was uploaded on 08/21/2011 for the course BUS 101 taught by Professor Doe during the Spring '10 term at University of Phoenix.

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Week 4 xeco212_appendix_c[1] - Axia College Material...

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