Eco 450 Week 4 Quiz

ECO 450 Week 4 Quiz

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Question 1

Which of the following is a good example of a congestible public good?

Question 2

A baseball field is:

Question 3

A means of creating a price-excludable public good is:

Question 4

An example of an undesirable public good (or public “bad”) is:

Question 6

The marginal cost of making a given quantity of a congestible public good available to more con¬sumers is:

Question 7

Public transportation is:

Question 8

The efficient output of a pure public good is achieved at the point at which:

Question 9

The demand curve for a pure public good is:

Question 10

The nonrival property of pure public goods implies that the:

Question 11

The principle of nonexclusion for pure public goods means that the benefits of the good:

Question 12

The free-rider problem:

Question 13

Cable TV programming is an example of a:

Question 14

The marginal cost of providing a certain quantity of a pure public good to an additional consumer after it is provided to any one consumer is:

Question 15

The monthly rental rate for a satellite dish antenna is $200. The maximum marginal benefit that any resident of a condominium community will obtain per month from the antenna is $50. There are 100 residents in the community, none of whom values the antenna at less than $25 per month. Assuming that the antenna is a pure public good for residents of the community,

Question 16

If a person has multiple-peaked preferences for a pure public good,

Question 17

A community currently hires 10 security guards per week to patrol their neighborhood. Each secu¬rity guard costs $300 per week. Assuming that the tax-sharing arrangement agreed to results in each of 300 voters paying the same tax share, each voter pays a weekly tax bill of:

Question 18

If all voters have single-peaked preferences for a pure public good, then the political equilibrium under majority...