Brandon_T_wk_4_CP - Axia College Material Appendix C...

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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 Ice Cream Cones Yes Yes Public Good National Defense No No. This is a non- excludable item. Common Resource Fish Yes No. This is a non- excludable item. Natural Monopoly Cable TV No Yes 1. What is the difference between a public good and a private good? Public goods are in which all consumers need such as health, security, and safety but are not needed all of the time so many people do not want to pay for the good. Public goods are goods that are usually provided by the government. Border patrol is a good example. It is a good that keeps us safe but we as a consumer are not willing to pay for it.
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This note was uploaded on 12/22/2011 for the course XCOM XCOM 285 taught by Professor Xxxx during the Spring '11 term at University of Phoenix.

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Brandon_T_wk_4_CP - Axia College Material Appendix C...

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