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We have demands for good X by 1 and 2. They are X1= 10-P and X2= 20 -P. The aggregate demand is X=30-2P

A public good is an extreme case of congestions costs because

Quiz Slides 5

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Answers

1
A public good is an extreme case of congestions costs because
they are increasing fast
they are decreasing fast
they are extremely large
they are extremely small
2
We have demands for good X by 1 and 2. They are X1= 10-P and X2= 20 -P. The aggregate demand is X=30-2P
X is a public good
X is a mixed good
None of the other alternatives is correct
X is a private good
3
Which sentences are true? (Multiple answers)
Education is a public good
Scientific and technological knowledge is a public good
National defense is a public good
Law and Order are public goods
Health is a public good
Street lighting is a public good
4
The Samuelson condition for optimality of the provision of public goods says that at the optimum
Sum of priv good marginal benefits equals sum publ good marginal benefits
Sum of public good marginal benefits equals marginal benefit private good
Sum of the marginal benefits equals the marginal costs of the public good
Sum of the marginal benefits equals the marginal costs of the private good