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consider a highway that everyone has access to. assume this highway is congested and, hence, every time a driver gets on the highway, it reduces the utility of the highway for the next driver. what kind of good is the congested highway? club good. public good. common resource. private good.

Respuesta :

According to the question, a congested highway seems to be a type of club good.

How are Club Goods operated?

Club goods are one subgroup of public goods that possess the property of non-rivalrousness, one of the two basic features of public goods. In economics, club goods also are occasionally referred to as scarce or artificially scarce products. Club items include things like cable tv, cinemas, wireless internet, toll roads, etc. Club goods are typically offered by what are called as natural monopolies and have nearly zero marginal costs. Club merchandise also has a fake scarcity.

What four different types of goods are there?

The four product categories are public goods, private goods, common resources, and club goods depending on rival in consumption & excludability.

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