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7nadin3 [17]
3 years ago
15

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

r a club good. Private Good Public Good Common Resource Club Good A cabana along a beach that is open to the public A new drum set for you to play in your friend's band A large, beautiful statue in a town square G
Business
1 answer:
erastovalidia [21]3 years ago
5 0

Answer:

1- A cabana along a beach that is open to the public --- Common resource

2- A new drum set for you to play in your friend's band --- Private good

3- A large, beautiful statue in a town square --- Public good

Explanation:

1- Common resources are goods that are not excluded, but are rival. Not excluded means that no restrictions can be imposed on the use, such as paying a price, for example because there is no personnel or technical provision available to enforce this.

2- Private goods are defined as goods that are excluded and rival. Private goods are the opposite of public goods.  

Excluded means that some consumers can be excluded from the use of this good. For example: Someone has bought a good and decides who uses the good.  

In turn, rival means that, if used properly, it cannot be consumed again or simultaneously by others.

3- A public good is a commodity or service characterized by two basic characteristics: non-rivalry and non-excludability.

Non-rivalry means that a person's consumption of a commodity does not affect the quantity or quality of the same commodity that another person can consume.

Non-excludability means that it is impossible to exclude anyone from the consumption of an item (for example, because it did not pay for the item). Goods that hold only one of the properties are called semicollective goods, while the goods that possess both properties are called genuine collective goods.

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After Shipra got a job, the first thing she bought was a new car. She took out an amortized loan for $20,000—with no ($0) down p
PolarNik [594]

Answer:

Her Yearly Repayment will be approximately $5771

Explanation:

For an Amortized Loan, to calculate the payment amount per period, we use the formula:

A=[P(1+r)ⁿ]/[(1+r)ⁿ-1]

where A=Payment per period

P= Initial Principal/Loan Amount

r= Interest rate per period

n= number of payments period

From the information provided,

P=$20000

n=4 years

r=6%=0.06

Therefore Yearly Repayment Amount A=[Pr(1+r)ⁿ]/[(1+r)ⁿ-1]

=[20000X0.06(1+0.06)⁴]/[(1+0.06)⁴-1]

=[1200(1.06)⁴]/[(1.06)⁴-1]

=[1200X1.2625]/[1.2625-1]

=1515/0.2625

=$5771.43

3 0
3 years ago
A wedding services company changes its marketing strategy to reflect the fact that more LGBT​ (lesbian/gay/bisexual/transgender)
marishachu [46]

Answer:

c. Cultural

Explanation:

The LGBT marriages differ from the  straight marriages mainly on the traditions and type of events that they have.

This community is most given to have a different kind of ceremy, which different kinds of games, type of place and traditions.

In consequence, if a wedding services company is ought to change its marketing strategy should go to make cultural changes, offering the community the type of wedding they like.

8 0
3 years ago
Sip corp uses no debt. the weighted average cost of capital is 8 percent. if the current market value of the equity is 18 millio
grigory [225]

Since there is no debt, all the capital that the company raises is in the form of common equity.

Since there is only equity (meaning the firm is a fully equity firm), the weighted average cost of capital (WACC) is nothing but the cost of equity

In this case the WACC represents the cost of equity

Therefore, cost of equity = WACC = 8%

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Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to con
Arte-miy333 [17]

Answer:

the income is $1,330

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The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

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At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

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The same should be relevant and considered too

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True or False: In a competitive labor market, increasing the minimum wage always raises the number of employed workers.
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I believe it’s true
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