Micro Chapter 11 【Public Goods and Common Resources】

1. Categories of goods
Complete the following table by selecting the appropriate definition for each of the given terms.


2. What kind of good is it?
Determine whether each of the following goods is a private good, a public good, a common resource, or a club good.


3. Voluntary contributions toward a public good
Cho and Ginny are considering contributing toward the creation of a public park. Each can choose whether to contribute $300 to the public park or to keep that $300 for a pool table... Complete the right-hand column of the following table, which shows the individual benefits of Cho.



4. Common resources versus private goods
Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy). The fish...


5. Common resources and the tragedy of the commons
Which of the following solutions could ensure that the  is sustainable in the long run, assuming that the regulation is enforceable? Check all that apply.