Check Your Understanding

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  1. Question

    For each of the following goods, indicate whether it is excludable, whether it is rival in consumption, and what kind of good it is.

    1. a public space such as a park

    2. a cheese burrito

    3. information from a website that is password-protected

    4. publicly announced information about the path of an incoming hurricane

  2. Question

    Which of the goods in Question 1 will be provided by a private producer without government intervention? Which will not be? Explain your answer.