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Chapter 13: Q. 20 (page 316)

Why is a football game on ESPN a quasi-public

good but a game on the NBC, CBS, or ABC is a public good?

Short Answer

Expert verified

Football games on the NBC, CBS, or ABC channels are public goods, because those channels are loose to broadcast if one owns a television. ESPN isn't a unfastened channel, people tons purchase this channel via a tv company. but, as soon as this channel is bought, the television provider can't manage what number of humans are looking on that unmarried customers account, thus it's far a quasi-public exact.

Step by step solution

01

Concept Introduction

A publicpreciseis a goodthat'sbothnonexcludable and nonrivalous,consequentlyapersonalcompanycan notanticipatetoacquireany of the socialbenefit.
A quasi-public proper have factors of both non-public and public items; they're partly excludable and partially rivalrous.

02

Explanation

ESPN is a non-public company generating tv which seems to be public right. almost anybody has get right of entry to to it, however you need to pay to look at it on ESPN. So it is in which that privatised characteristic of ESPN is available in, as you have to pay for it. So proper here, let's preserve in thoughts with ESPN. We pay for that if we want to watch some thing on that. So it's nearly like a provider now NBC, CBS and ABC. these are just available to every person. So they may be loose so long as we have a television and cable connection. So the difference right here is in reality and just pronouncing that ESPN is best a apparently public top inside the feel that it's public. however if you pay for it, so it's that privatize its that mix of our private and public attributes.

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Most popular questions from this chapter

Assume that the marginal private costs of a firm producing fuel-efficient cars is greater than the marginal social costs. Assume that the marginal private benefits of a firm producing fuel-efficient cars is the same as the marginal social benefits. Discuss one way that the government can try to increase production and sales of fuel efficient cars to the socially desirable amount. Hint: the government is trying to affect production through costs, not benefits.

Can a company be guaranteed all of the social

benefits of a new invention? Why or why not?

Which of the following goods or services are nonexcludable?

a. police protection

b. streaming music from satellite transmission programs

c. roads

d. primary education

e. cell phone service

Why might private markets tend to provide too few incentives for the development of new technology?

HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the plane's operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R&D projects that provide at least a certain private rate of return. Column 1 = Private Rate of Return. Column 2 = Value of R&D Projects that Return at Least the Private Rate of Return to HighFlyer Airlines. Use the data to answer the following questions.

Private rate of returnValue of R&D
12%\(100
10%\)200
8%\(300
6%\)400
4%$500

a. If the opportunity cost of financial capital for HighFlyer Airlines is 6%, how much should the firm invest in R&D?

b. Assume that the social rate of return for R&D is an additional 2% on top of the private return; that is, an R&D investment that had a 7% private return to HighFlyer Airlines would have a 9% social return. How much investment is socially optimal at the 6% interest rate?
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