Pacific salmona. Which of the goods in the table are public goods?
Explain.
b. Which are common-property resources? Explain.
9. Art galleries, museums, roads, and bridges are usually provided
by the government.
a. Explain why uncrowded goods of this sort should have a
price of zero if allocative efficiency is to be achieved.
b. Would allocative efficiency be achieved if private firms
provided these goods? Explain.
c. What happens when access to these goods becomes
congested? Does efficiency still require a zero price?
Explain.
10. In this chapter we discussed common-property resources such as
common grazing land. Suppose the social marginal benefits and
social marginal costs of using the grazing land are as shown
below.