Is education a public good? Focus on whether it meets the two criteria for being a public good

First, consider the nonrivalry-in-consumption characteristics. You may be in an economics class at a large university with several hundred students consuming the same lecture. Is this equivalent to a class with 30 students in which you get the same benefits? Perhaps, but what if we consider a class with several hundred first-graders. Would we expect the same learning to occur as in a smaller class? Education has some nonrivalry-in-consumption characteristics, but these appear limited, especially at lower educational levels. Is it difficult or costly to exclude nonpayers? Even if you attend a large university, nonpayers are still effectively excluded from transcripts and degrees, the benefits most students seek. At lower educational levels, exclusion could be as simple as a guard at the door.

Economics

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When is demand perfectly elastic? When is demand perfectly inelastic? What are the values of the price elasticity of demand when demand is perfectly elastic or perfectly inelastic? What do perfectly elastic and perfectly inelastic demand curves look

like?

Economics

The Cournot and Stackelberg models are similar, EXCEPT Cournot ________ and Stackelberg ________

A) sets price; sets output B) sets output; sets price C) is dynamic; is static D) is static; is dynamic

Economics