Consider a public road that anyone is allowed to drive on.If the road is often congested,the road would be considered a
A) private good.
B) natural monopoly.
C) common resource.
D) public good.

Question

Quizplus · Accepted Answer

A public road is open to all and anyone is allowed to use it. It is not owned by any particular person or organization. Therefore, it would be considered a common resource. However, if it were owned and managed by a private organization, it would be considered a private good. If it were owned and managed by a single government entity, it would be considered a natural monopoly. Lastly, a public good is non-excludable and non-rivalrous, meaning that the consumption of the good by one person does not diminish its availability to others, which does not apply to a congested road.

Consider a Public Road That Anyone Is Allowed to Drive