12 October, 13:21
A quasi-public good shares all characteristics of a public good except that access to the good can be limited, at least somewhat, so that there are no free riders. Which of the following products best fits the definition of a quasi-public good?
Excludable and non rival
Non excludable and rival
Rival and Excludable
12 October, 13:57
The answer is which products best fits the definition of a quasi-public good is
Rival and Excludable
Quasi-public goods are sometimes referred to as mixed goods in the sense that it has the characteristics of both private and public goods.
These traits can be summarized as partial excludability, partial rivalry, partial diminishability and partial rejectability.
Examples of Quasi goods include roads, tunnels and bridges.
A quasi-public good shares all characteristics of a public good except that access to the good can be limited, at least somewhat, so that there are no free riders.
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» A quasi-public good shares all characteristics of a public good except that access to the good can be limited, at least somewhat, so that there are no free riders.