Under which of the following scenarios would a park be considered a public good?
A)Visitors to the park must pay an admittance fee, but there are always plenty of empty picnic tables.
B)Vistors to the park must pay an admittance fee and frequently all of the picnic tables are in use.
C)Visitors can enter the park free of charge and there are always plenty of empty picnic tables.
D)Visitors can enter the park free of charge, but frequently all of the picnic tables are in use.

Question

Quizplus · Accepted Answer

A public good is defined as a good that is non-excludable and non-rivalrous. In this case, the park can be used by anyone without exclusion and the consumption of the park by one person does not reduce the availability of the park to others. The fact that there are always plenty of picnic tables in the park further supports the idea that the park is non-rivalrous. The absence of an admittance fee also reinforces the non-excludability of the park. Therefore, this scenario best fits the definition of a public good.

Under Which of the Following Scenarios Would a Park Be